Benefits of a student loan
Funding your education doesn’t have to be daunting. There are many benefits to a student loan beyond just paying fees.
Your dreams, goals, and career ambitions shouldn’t be limited by finances. If funding your studies feels like the biggest hurdle between you and the future you want, a student loan can help bridge that gap and give you the freedom to focus on learning, growing, and building the life you imagine.
Here’s why a student loan could be just the tool you need to facilitate your academic life and financial future.
1. Support when you need it most
A student loan is designed around your real needs as a student. Tuition fees are paid directly to your institution, accommodation costs go straight to your residence or landlord, and any remaining funds are paid into your (or your surety signer’s) bank account.
The process is simple, efficient, and built to give you peace of mind when it matters most.
2. Freedom to focus on your studies
If you’re studying full-time, you only start repaying the loan once your studies are complete. Until then, your surety covers only the interest and fees, helping reduce financial pressure while you focus on passing exams, building skills, and shaping your future.
If you’re a self-assured student, flexible and affordable repayment options are available to suit your circumstances.
3. Take your studies further (even overseas)
Your education doesn’t have to be limited by borders. If your goals include gaining international exposure or studying abroad, our student loan can help take you there.
We support studies at SAQA-approved institutions outside of South Africa, enabling you to pursue recognised qualifications while experiencing the world.
Whether you’re looking to broaden your perspective, build a global network, or access specialised programmes, our student loan can help turn international study plans into a reality.
4. Accessible and straightforward
Qualifying is simple. You need to be 18 years or older and accepted at, or currently studying at, an accredited institution. Full-time students will need a surety, while self-assured students may apply independently.
5. Lower interest rates
Student loans typically offer lower, personalised interest rates than personal loans or credit cards. That means less financial strain over time and a more sustainable way to invest in your education.
6. More than just tuition
Your loan can cover more than classroom costs. It may also help pay for accommodation, textbooks, and essential study equipment to support your full student experience, not just your fees.
7. Easy to apply
You can get pre-approved online and complete your application at your nearest branch with the required documents, making the journey from application to approval as smooth as possible.
Top tip: Choose your loan amount carefully. While repayment starts after you graduate, it’s important to borrow only what you need. You can always increase your loan later as your needs change.
*Terms and conditions apply.
Disclaimer: This article is for information purposes only and does not constitute financial, tax or investment advice. Readers are strongly encouraged to seek financial or legal advice before making any decisions based on the content.
Standard Bank, its subsidiaries or holding company, any subsidiary of the holding company and all of its subsidiaries, make no warranties or representations (implied or expressed) as to the accuracy, completeness, or suitability of the content of this article. The use of the article and any reliance on the content is at the reader’s risk.
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https://www.standardbank.co.za/southafrica/personal/learn/how-to-survive-on-a-student-budget
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