Bank Loans as a funding option
Financial institutions offer loans to students to pay for their studies. As a student, you may be required to service the loan and interest while you study, and then pay back the capital to the financial institution as is stipulated by the bank’s terms and conditions.
Should a prospective or current undergraduate student be unsuccessful in obtaining a student bank loan, you may wish to consider crowdfunding with feenix – an online fundraising platform that was launched in June 2017 as a response to the #FeesMustFall movement that spread across university campuses in South Africa during 2015 and 2016. Feenix believes access to education should not be dependent on wealth. Standard Bank is a founding partner and feenix provide students with the tools to formalise their fundraising efforts and a channel for funders to find students they wish to support.
Capitec Credit for Education
Capitec has teamed up with CUBL to offer credit of up to R500 000 at a discounted interest rate to students who want to complete undergraduate studies at Stellenbosch University.
It’s a credit solution that can help you achieve your education goals.
Read the frequently asked questions to find out more or call Capitec on 0860 88 88 40 for help to make the right decision for your needs.
FREQUENTLY ASKED QUESTIONS
What is credit for education?
It’s credit that’s offered at a discounted interest rate over a longer term, specifically to pay for education.
Which credit solutions can I choose from?
Depending on what you qualify for, you can choose one or both credit solutions:
Access facility
- You could qualify for up to R500 000
- The money is paid directly to you
- You choose where and when to use the money
- You only pay interest and fees on the money that you use
Education loan
- You could qualify for up to R250 000 over a repayment term of up to 84 months
- Interest rates from as low as prime
- The loan is paid directly to the education institution
How much could I qualify for?
The term and amount you could qualify for are based on your credit profile, income, and affordability.
Click here to see what you could qualify for in 3 easy steps.
What is the difference between Credit for Education and a personal or student loan?
Credit for Education is for an education need. You apply online through the dedicated Stellenbosch University link. If you qualify and your credit is approved, the money will be paid directly into your SU student fees account.
A term loan or personal loan can be used for anything, and the money is paid into your bank account on approval. However, you won’t receive a discounted interest rate or an extended term.
Who could qualify for Credit for Education?
- You don’t have to be a Capitec client to apply, but you must be a Stellenbosch University student
- To apply for credit, the applicant (you or your parent/s, guardian or sponsor applying on your behalf) must be permanently employed, 18 years or older, and have a valid South African ID document or smart ID card
- You need an invoice or quote from the University not older than 30 days, to process your application
- The credit assessment will be based on Capitec’s credit granting rules, your credit profile, and your affordability
How do I apply?
- You can apply here in 3 easy steps to get a personalised estimate
- Once you’ve completed the estimate, you’ll have the option to choose I’m interested or Cancel
- Choose I’m interested if you’d like to go ahead with the credit application and a Capitec consultant will contact you within 48 hours to complete your application
What documents do I need to apply?
You need to provide the following documents:
- The applicant’s last 3 consecutive salary slips
- A bank statement showing the applicant’s latest 3 consecutive salary deposits (only if the salary is not paid into a Capitec account)
- No proof of residential address is needed, but we may ask for supporting documents to complete the application
You will need to send these documents to Retailers@capitecbank.co.za when requested.
Can I move my existing loan to Capitec?
No, Credit for Education is only for education. You cannot use it to settle any existing loans you may have.
Who do I call if I have any questions?
You can call Capitec on 0860 88 88 40 from Monday to Friday 8am – 6pm, and Saturdays 8am – 1pm.
Download Capitec’s free Money Guide for tips on how to manage your money.
You can also register for 5 free courses through Capitec’s Live Better Academy to help you learn to invest, build your financial health, reach your money goals and live better.
Nedbank student loans
A flexible solution for full-time or part-time studies
- Our loans are suitable for both full-time and part-time students
- You can pay back your student loan while you study or once you have graduated
- You can also benefit from special interest rates that are linked to your academic performance
1. Student loan without surety
This student loan enables you to get funding without needing a parent or guardian to qualify.
Benefits
- this loan covers tuition, books and study equipment, accommodation, and existing historical debt
- affordable interest rates
- no repayments while you’re studying
How it works
- you need to be a Standard Bank customer. If you don’t have a bank account, you can apply online on the Standard Bank website.
- your gross household income must be less than R600 000 annually (less than R50 000 per month)
- you need to be a third-year student and upwards within science, technology, engineering, mathematics, commerce, or health sciences; or a fifth-year student and upwards within medicine
Apply online
Firstly, have the following documents ready
- South African ID
- Proof of residence, not older than three (3) months
- Proof of gross household income
- Proof of latest academic results
- Stellenbosch University registration letter
- If you require funding for books and study equipment, then proof of cost if it’s over R6 000
- If you require funding for accommodation, then your lease agreement reflecting the cost of accommodation
- Statement of University tuition or residence cost (if funding is required)
then APPLY HERE to complete your application.
2. Full time student loan
This student loan is for full-time students who need a surety to co-sign the student loan. Your surety can be a parent, guardian or anyone willing to co-sign.
Benefits
- this student loan enables you to study locally or abroad. We also fund Private Pilot’s License
- low interest rates
- no maximum tuition
How it works
- your surety needs to earn a minimum income of R3 000 per month
- your surety is responsible for servicing the interest and fees while you study, or if you default on your repayments
- you will be granted a grace period of six (6) months after completing your studies before taking over the loan repayments
Apply online
Firstly, have the following documentation ready
- Copy of ID (student and surety)
- Proof of residence, not only than three (3) months (student and surety)
- Three (3) months’ payslips (surety), and three (3) months’ bank statements if the surety does not bank with Standard Bank
- Proof of latest academic results
- Stellenbosch University registration letter
- Acceptance letter or proof of registration from Stellenbosch University
- Proof of costs for tuition, accommodation, and textbooks and/or equipment
then APPLY HERE to complete your application.
3. Part-time student loan
This student loan is ideal if you want to study part-time and are employed full-time.
Benefits
- you can insure your student loan in case of death, disability, or dread disease
- affordable interest rates
- no maximum tuition
How it works
- you need to earn a minimum monthly income of R5 000 to qualify
- you will be required to repay the loan while you study
Apply online
Firstly, have the following documentation ready
- Copy of Id
- Proof of residence, not older than three (3) months
- Three (3) months’ payslips, and three (3) months’ bank statements if you do not bank with Standard Bank
- Proof of latest academic results
- Stellenbosch University registration letter
- Acceptance letter or proof of registration from Stellenbosch University
- Proof of costs for tuition, accommodation, and textbooks and/or equipment
then APPLY HERE to complete your application.
Have any questions?
Read the Standard Bank student loan article to learn more about student loans and how they work.
Stellenbosch Campus
Physical Address
Admin A Building, Ryneveld Street, Stellenbosch 7600
Office hours
Monday to Friday 8:00 – 16:30
+27 21 808 9111
info@sun.ac.za
Tygerberg Campus
Physical Address
Clinical Building, Francie van Zijl Drive, Tygerberg 7505
Office hours
Monday to Friday 8:00 – 16:30
+27 21 938 9129 / 21 808 9111
tygbursaries@sun.ac.za
Centre for Undergraduate Bursaries and Loans (CUBL)
sunfinaid@sun.ac.za
All and only NSFAS and FUNZA bursary assistance at SU (including FMHS NSFAS/FUNZA students)
nsfas@sun.ac.za
Due to the high volume of emails received and handled by CUBL, all email correspondence must include a student number, bursary name/ref, and a short descriptor in the subject line.
For example: 'SU#12345678 / NSFAS – change in accommodation form request'. This will ensure your enquiry can be attended to promptly and efficiently.
Current bursary students can make an in-person booking here.
A virtual meeting can be schedule via MS Teams (this is our preferred mode of communication).