As a student who is studying at university or tertiary institution, you will obviously need money to buy books, laptop, pay your study fee and other neccessary items.
Sometimes these study neccessities can require a substantial amount of money from the first year upto the time you graduate.
Most students may not have this money available to cater for their education, sometimes due to poverty or lack of financial support.
Nevertheless they need to study in order to get a good job but they can’t earn enough money to pay for their studies without being in a fulltime job and earning a good salary first. The solution is to apply for a Student Loan.
There are certain credit providers in South Africa who cater for the needs of students. Your bank may provide you with a loan, and in addition there are other organisations that specialize in lending money to students. It is possible to borrow money for your studies without any deposit, and pay it back in fixed instalments month by month. The money you borrow is paid directly to the university or other institution so that you don’t need to have the extra bookwork each month.
In order to get this student loan approved, you could ask your family, employer or even a good friend to sponsor you and apply for you. Of course they themselves need to be able to meet the standard affordability criteria when applying for the loan.