A Student loan from Standard Bank can pay for your tuition, books and accommodation at a tertiary institution of you choice, get down to your nearest Standard Bank branch to apply for your Student loan.
You can use the money from your standard bank student loan for:
- Accommodation. Loans for accommodation will only be granted to full-time students not living with their parents.
Repaying my student loan
If you are a full-time student, you will need to start repaying the loan on completion of your studies. However, during your time of study, you will be required to pay the monthly interest. The interest may be charged to your or your surety’s bank account.
You will be granted a grace period for capital repayments if you have completed your articles, internship or community service.
If you are a part-time student you will need to repay your loan while you are studying.
Monthly payments must be made by debit order.
You will need to start repaying your loan immediately, if you fail to complete your studies.
Once the loan is in repayment mode the monthly repayments remain unchanged. If you are a part-time student the monthly repayment will change whenever you increase the limit on your loan while studying.
The repayment period of the loan will be affected by one or more of the following:
- Paying more than the minimum monthly instalment:
- Fluctuations in the interest rate.
Accessing your Student loan account
The money will be paid directly to the institution; the balance can be paid into your Standard Bank transaction account.
Insurance cover for your Student loan
We recommend that you take out a Personal loan protection plan to pay any outstanding balance on your loan in the event of death, dread disease or disability.
What else do you need to know?
We would like to know how you are progressing with your studies so we would like to see your marks and proof of registration or qualifications by 31 March every year.
Student loans are granted for a specific year of study and you will have to re-apply for each year of registration.