Highlights
- Don’t have someone to act as surety for your loan? If you’re at a qualifying institution, Standard Bank offers a “loan without surety” option, so you can still access up to R120,000 per year
- A student loan from Standard Bank can be tailored to cover all major university expenses
- Applying with Standard Bank is straightforward and can be done online
Standard Bank offers a flexible range of student loans to suit different study needs. Here’s what makes them stand out:
Key benefits
- Low interest rates
Enjoy a competitive interest rate of 11.00% (terms and conditions apply), helping you keep long-term costs down.
- Laptops and study equipment covered
Standard Bank loans can include the cost of essential equipment. You won’t have to miss online classes because you don’t have the right device.
- Quick online quotes
Save time by getting an instant online quote before applying.
- Easy, direct payouts
Tuition and accommodation funds are paid straight to the university or accommodation provider, taking the admin off your plate.
- No maximum for tuition fees
Fund your entire education, no matter your institution’s fee structure.
- Up to R20,000 for accommodation
Balance study and living costs by including housing in your loan.
- Support for part- and full-time students
Whether you’re heading to campus or balancing study with work, there’s a solution for you.
Student Loans Without Surety
Don’t have someone to act as surety for your loan? If you’re at a qualifying institution, Standard Bank offers a “loan without surety” option, so you can still access up to R120,000 per year. This covers tuition, accommodation, existing tuition debt, and equipment. Best of all, you only start repaying after you finish your studies.
Quick Fact: You can estimate your monthly repayments using Standard Bank’s online Student Loan calculator.
What Do Student Loans Cover?
A student loan from Standard Bank can be tailored to cover all major university expenses:
- Tuition fees (no maximum)
- Accommodation (up to R20,000)
- Textbooks and study equipment (laptops, tablets, lab fees, etc.)
- Existing tuition debt (for those who need to catch up on outstanding fees)
Loan funds are paid directly to the respective parties, ensuring your money is used for its intended purpose.
How to Apply for a Student Loan
Applying with Standard Bank is straightforward and can be done online. Here’s how you can prepare:
Step-by-Step Process
- Check if you qualify
Review Standard Bank’s eligibility requirements using their qualification tool.
- Get an online quote
Use the online calculator to estimate your monthly repayments based on the amount you need and your chosen repayment period.
- Prepare your documents
Gather personal identification, proof of admission to an accredited institution, and details on your study costs.
- Complete your application
Fill out the loan application online or in-branch.
- Await approval
Standard Bank will review your application and supporting documents before confirming your loan, often in just a few working days.
- Receive payouts
Successful loans are disbursed directly to your educational institution or service provider.
Tip: If you have questions about eligibility, the bank has a dedicated team to guide you through the process.
Repaying Your Student Loan
Repaying your student loan is as important as getting approved. Standard Bank offers structured, flexible repayment plans tailored to your circumstances.
While Studying
- For traditional student loans, you typically pay only the interest during your studies, keeping monthly payments manageable.
- Loans without surety allow you to defer payments until you complete your qualification.
After Graduation
- Repayment of the capital amount begins, often with an adjustment to monthly payments.
- You may be able to pay off your loan faster or settle early without penalties.
Learn more about repaying a student loan with practical tips and tools.
Responsible Borrowing and Managing Your Finances
Taking out a student loan is a long-term commitment. Consider these tips to manage your loan effectively:
Plan for the future
- Only borrow what you need. Stick to essentials to avoid overextending yourself.
- Track your spending. Use apps or a simple spreadsheet to manage your budget.
- Keep student debt in context. View it as an investment in your future earning power.
Use available resources
Standard Bank offers educational content for all students, from career development planning to job hunting tips, helping you make the most of your time at university and beyond.
If you struggle with repayments
Should you hit a rough patch (perhaps you’re between jobs or facing other challenges), reach out to the Debt Care Centre. They can help you arrange a payment plan or restructure your monthly obligations to avoid long-term problems.
Beyond Student Loans
Standard Bank offers more than just education finance. Once you graduate, options like the Professional Banking Account help you step into the working world with exclusive perks, including discounted flights and personalized financial advice.
Taking the Next Step Toward Your Education Dream
An investment in your education unlocks opportunities that last a lifetime. Student loans help make that investment possible, breaking down financial barriers on the path to your goals.
If you’re ready to move forward, explore your options with Standard Bank, use their tools to understand your repayment commitments, and ask for help if you need it. With the right support, you can focus on studies, not stress.
