Are you eager to further your education but worried about the financial strain? You’re not alone. With university fees climbing higher each year, study loans have become a lifeline for many. If you’re wondering where to find a study loan in 2025, this guide will walk you through the best options available in South Africa.
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Find a Study Loan at a Bank
Several South African banks offer student loans with varying terms and conditions. Below is an overview of the options available:
Capitec Bank
Capitec Bank provides student loans designed to cover tuition fees, accommodation, textbooks and other study-related expenses. The loan amounts and interest rates are determined based on the applicant’s credit profile and affordability; however, you can get up to R500,000 credit for your academic needs. Applications are open year-round, allowing students to apply at their convenience.
Application Process:
- Eligibility: Applicants must be South African citizens enrolled at accredited tertiary institutions.
- Required Documents: Proof of enrollment, a valid South African ID, proof of residence, and proof of income or a guarantor.
- How to Apply: Visit the nearest Capitec Bank branch or apply online through their official website.
Take the next step in your educational journey by applying for a Capitec Bank student loan today.
First National Bank (FNB)
FNB offers student loans up to R360,000 and the loan amount is based on the applicant’s credit profile and affordability. Applications are accepted throughout the year, providing flexibility for students.
Criteria
According to FNB, the person applying for the loan, called the principal debtor, must meet these requirements:
- Earn at least R3,000 per month that is paid into their bank account.
- Have a permanent job or be self-employed.
- Both the applicant and the student must have a South African ID.
- The student must be registered at a recognized university or college.
Documents Required
Applying for a student loan at FNB is easy! Here’s what you need before sending your application.
For FNB Customers
- Proof of enrollment or registration from the educational institution
- Valid student ID
For Non-FNB Customers
- South African green bar-coded ID or smart ID card
- Most recent 3 months’ payslips or bank statements (self-employed customers need the latest 6 months’ bank statements and an ITA34 form)
- Proof of residence dated within the last 3 months
- Proof of enrollment or registration from the educational institution
- Valid student ID
How to Apply
Once you’ve got your documentation ready, all you have to do is visit the application link, fill in your details and follow the prompts.
Secure your future with an FNB student loan—apply now to fund your studies.
Standard Bank
Standard Bank provides student loans with a low interest rate of 11.25% (T&Cs apply). Accommodation costs can be covered up to R60,000 per year, and textbooks and equipment up to R20,000. The minimum loan amount is R5,000. Applications are open year-round, and all you need in order to qualify is be a South African resident, be enrolled at an accredited university and have an annual household gross income that’s less than R600,000.
Application Process:
- Eligibility: South African citizens enrolled at accredited institutions, with a surety earning at least R3,000 per month.
- Required Documents: Proof of enrollment, ID documents, proof of residence, proof of income of the surety, and quotes for textbooks and equipment.
- How to Apply: Apply online through the Standard Bank website or visit a branch.
Invest in your education with Standard Bank’s flexible student loans—apply today.
Absa
Absa offers student loans that aim to cover the complete cost of your studies, and you only have to pay interest for the first 12 months—and repayments after the first 13. Much like the other banks in South Africa, applications are accepted throughout the year, meaning you can apply at any point during your academic journey.
Application Process:
- Eligibility: South African citizens enrolled at recognised tertiary institutions, with a surety earning a minimum monthly income of R3,000.
- Required Documents: Proof of enrollment, ID documents, proof of residence, proof of income of the surety, and a detailed fee structure from the institution.
- How to Apply: Visit your local Absa branch to apply or request a call back.
Nedbank
Nedbank offers study loans to students of up to R400,000 over seven years. The interest rates are linked to your academic performance, meaning the higher your grades, the lower your interest (if that’s not motivation to study, we don’t know what is!).
Application Process:
- Eligibility: South African citizens enrolled at accredited institutions, with a guarantor who has a good credit standing.
- Required Documents: To qualify, you’ll need your latest exam results, a statement of your academic fees (tuition, textbooks, equipment and accommodation), proof of registration at an accredited tertiary institution and a Nedbank account.
- How to Apply: Visit a Nedbank branch or ask for a callback.
Achieve your educational goals with Nedbank’s supportive student loans—apply today.
Find a Study Loan at Fundi
Fundi is South Africa’s leading education finance and fund management specialist, offering student loans that cover a wide range of educational expenses, including tuition fees, study materials, accommodation and more.
Fundi Eligibility Criteria
To qualify for a Fundi student loan, applicants must meet the following requirements:
- South African Citizenship: Applicants must be South African citizens.
- Employment Status: Applicants should be permanently employed, preferably within the government sector, possessing a valid persal number.
- Age Requirement: Applicants must be over the age of 18.
- Financial Standing: Applicants must not be under debt review and should have a minimum monthly income of R2,500 after deductions.
Application Process
Applying for a Fundi student loan is straightforward:
- Online Application: Visit the Fundi website and navigate to the ‘Educational Loans’ section.
- Select Loan Type: Choose the type of study loan that suits your needs.
- Submit Details: Fill in your personal information, including your name, email address, and cellphone number.
- Await Contact: After submission, a Fundi representative will review your information and contact you to discuss the next steps.
- Provide Documentation: You may be required to submit supporting documents, such as proof of income, identification, and proof of enrollment at a recognized tertiary institution.
- Approval and Disbursement: Upon approval, Fundi will disburse the funds directly to your educational institution, ensuring a seamless payment process.
Repayment Terms
Repaying your Fundi student loan is convenient, with monthly installments deducted directly from your salary. This automated process helps you manage your finances effectively while focusing on your studies.
Embark on your educational journey with confidence—apply for a Fundi student loan today and invest in your future.
Study Loan Alternatives
While study loans are a popular option, there are other ways to fund your education. Two key alternatives are government-funded programmes like NSFAS and the Funza Lushaka Bursary Scheme.
NSFAS (National Student Financial Aid Scheme)
NSFAS remains one of the most well-known financial aid programs in South Africa. It provides funding for tuition, accommodation, food allowances, books and more to students from low-income households. NSFAS is more than just a loan—it operates as a bursary if students meet academic performance criteria, making it a top choice for those who qualify.
- Eligibility: South African citizens with a combined household income of less than R350,000 annually. For students with disabilities, the income threshold is R600,000.
- Application Dates: Applications for 2025 funding opened in late September 2024 and closed on 15 December 2024. Be sure to check the NSFAS website for official dates.
- How to Apply: Visit the NSFAS portal to complete your application.
Secure your future with NSFAS—don’t miss the application deadline!
Funza Lushaka Bursary Scheme
If you’re passionate about teaching, the Funza Lushaka Bursary Scheme might be the perfect alternative to a traditional study loan. This government-funded programme covers the full cost of studying education at an accredited institution, including tuition, accommodation and living expenses. In return, bursary recipients are required to teach at a government school after graduation for the same number of years they received funding.
- Eligibility: South African citizens pursuing a teaching qualification at an accredited institution. Applicants must commit to teaching in a public school post-graduation.
- Application Dates: The 2025 application window opened in October 2024 and closes on 26 January 2025.
- How to Apply: Applications are completed online via the Funza Lushaka website.
Fund Your 2025 Academic Year with Fundi
Don’t qualify for a bursary or see one that’s right for you? Consider getting a student loan with Fundi!
Fundi covers a multitude of educational fees, including everything from tuition costs to accommodation. Take a look at the Fundi Loan Calculator to see if you qualify today!
