Here is a checklist of what you need to apply for a student loan.
CHECK! Proof you have been accepted into a South African Qualifications Authority (SAQA) accredited institution.
CHECK! A valid ID.
CHECK! Proof of registration at the institution.
CHECK! A set of your previous results from where you last studied (matric or varsity/college).
CHECK! Proof of residence not more than three months old.
CHECK! Someone to stand surety for your loan. This person needs to have a full-time job and not be blacklisted. They’ll be responsible for paying the monthly interest on the loan during the period of study and will also stand guarantor for the loan.
Keep in mind:
- You can stand surety for yourself if you have a full-time job.
- Once you start paying off your loan, speak to the bank about an extension in case you can’t make the full payment in the allocated time.