Student Loans

Taking control of your future has become synonymous with improving your education. The only problem is finding the funds to finance this endeavour. Fortunately, it’s possible to take out a student loan today so that you can settle the debt you incur with the salary increase you’ll earn tomorrow.

Student loans allow you to kickstart your career or grow within your current role before you’re able to afford your preferred level of education. It’s a long-term responsibility that can take your future to new heights if handled correctly.

By filling in the below form, you will receive a call from a financial adviser who will talk you through your options. If a student loan is right for you, they will give you the opportunity to take one out through a trusted provider.

Find out whether a student loan is right for you

Student Loan Application

Loan Details

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Where can you get a student loan?

There are predominantly two ways you can secure a student loan; either through government subsidies or private funding.

The former can be accessed by contacting the government department that relates to the direction you plan to study in. These branches often have partnerships with tertiary institutions, and they may be willing to provide financial assistance.

The latter option involves seeking assistance from banks and other private entities. This is where Justmoney can help you. By filling in the above form, you’ll receive further information on privately funded student loans.

What will be required of you?

Private institutions take a huge risk when they offer student loans. If you do not manage to secure your qualification, you may not be able to afford to pay back the money you owe. Therefore, these lenders usually require a “guarantor” to sign surety for you.

A guarantor is often a parent or guardian but does not have to be limited to this. A guarantor can simply be someone who has an interest in your growth and development. If you do not manage to gain your expected qualification, your guarantor will become liable for your outstanding debt.  

In order to apply for a student loan, you’ll be required to present certain documents, such as your ID, proof of enrolment at your preferred tertiary institution, and information about your guarantor (proof of address and income).

Once your student loan has been approved, the money will be paid into your account. You then need to ensure it’s used to cover the cost of your tuition, equipment you may need, and, where applicable, accommodation and food. It’s best to keep a record of each of these expenditures in case the lender requests proof of where the money went.

At the end of your studies, you’ll be required to pay back the amount you owe in the form of monthly instalments. The lender often allows a grace period until you’ve managed to find employment.  Thereafter you’ll have to diligently settle the amount. Again, if you default on your repayments, your guarantor will be held responsible for the debt.

To find out more about the ins and outs of student loans, have a look at our student loan guide. Here we will answer all your questions, such as what to do if you don’t qualify for a student loan and how the National Student Financial Aid Scheme (NSFAS) works.

Are you a parent seeking assistance for your child?

A student loan is not the only way you can ensure your child receives tertiary education. If you’re willing to put in the work and you’ve got time on your side, you may have other options available to you as well.

By taking out a student loan, you will ultimately pay more for your child’s education because lenders need to be compensated for the risk they’re taking. However, if you invest in your child’s future before it’s required, you will likely spend less than you would if you were paying upfront. This is because of the wonders of compound interest. Instead of paying interest, you could earn interest on the savings you put away for your child’s future.

You can open a unit trust while they’re still young and slowly accumulate the finances they will one day need when they attend a tertiary institution. As the parent of a young child, you have time on your side to start planning for the future they may one day have. Find out more about how you can save for your child’s tertiary education, where we compared different savings vehicles and the ultimate cost of tertiary education.

The value of a Student Loan (Undergraduate and Postgraduate)

We all have ambitions and we all want to get ahead in life and we all know that a good education is the foundation for us to reach our goals.

Studying can, however, be a costly affair and not all of us have the money to pay for our studies upfront, that's why you might want to consider taking out a student loan to cover all your study-related needs.

Your loan can be structured to include registration fees and even study-related expenses can be covered, such as for books and laptops. Read our guide on student loans to make sure that you are fully informed before taking the plunge and applying for one. 

Financial Aid for Postgraduate Studies

Are you trying to fund your postgraduate education in South Africa? Click below on the top universities in the country to find out what type of financial assistance each offers: 


The guide below helps explain student loans. If you still have questions after reading the guide, ask our student loans expert or you can also visit our FAQ page.

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