The Advantages of a Student Loan

Student Loan

Student loans might not be your first choice when it comes to funding your studies but it could be a solid option. Relebone is about to tell you why.

“Go to school!” they said.

“Study further!” they said.

“It will be worth it!” they said.

But what they didn’t always say, was that finding funding for your studies is not easy.

The Search for Funding

We often hear about how education will open doors for us. Apparently, education will expose us to opportunities we would have trouble accessing without the knowledge and skills it gives us. However, we don’t often hear about accessing funding. This is pretty important. Especially if we don’t have enough money of our own and/or do not qualify for bursaries. The best-kept secret is that student loans can help you finance your dream.

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How to Apply for a Student Loan

A student loan can help you pay for anything study related, from tuition fees to accommodation and textbooks. Find out more about the application process.

Student Loans Require Commitment

South Africans have a bad relationship with debt. According to Business Live, credit extension is growing faster than job creation, and we have a reputation for being the world’s “biggest borrowers”.

Student loans are, however, a different story. It is a commitment which is long-term but, it will benefit you (if you are sure about what you would like to study). The good news about student loans is that they also generally carry a lower interest rate than other loans, such as housing, car and personal; and they help you to start building a credit record.  Hashtag forward thinking!

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Everything you need to know about Student Loans in South Africa

Tertiary studies are expensive, there’s no way around it. Luckily though, you have options to finance it – student loans in South Africa are a realistic option, and they are readily available

What are your Money Values?

As with all money decisions, you will need to be wise. Ask yourself: which values are driving your view on money? These values, depending on what they are, could be a blind spot or a strength. Take a good look at the money decisions you have made and assess whether or not you need help on handling money. Once you know better, you will make much better decisions. Fact!

Let the Loan work for you

There are a lot of options available to help finance your financial needs. The most common route to go is financial backing from financial institutions such as banks. Other options include getting a loan from an institution which specialises in financing loans for education. An example of this type of institution is FUNDI. This is South Africa’s leading education fund management solution specialist. To get you started, let’s look at the advantages of choosing FUNDI.

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Frequently Asked Funding Questions

Have you got a burning question about funding your studies?  Well, you have come to the right place!  You will be able to find answers to your questions without delay.

Funda with FUNDI

  • FUNDI has been around since 1996, and since then has helped over 850 000 students with education funding. That’s around R4.5 billion worth of financial funding for students!
  • Funding includes everything from registration to textbooks, accommodation, laptops, tablets and other essential studying equipment.
  • If you’re not looking to go the traditional university route, but still need a loan, there are options to apply for funding for your diploma or short course.
  • Budgeting is a good money value to have! If you struggle with budgeting, the FUNDI card will help you do this with ease. The card can be used to pay for education expenses only and helps you focus on your studies instead of managing your bursary funds.
  • Once you have chosen FUNDI as your loan provider, you will be able to have access to benefits like their financed specials of notebooks, tablets as well as tutoring, stationery and additional support.

Your educational aspirations may require extra financial help but, in the end, you will look back and be grateful for the journey!

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Repaying a Student Loan: The Game Plan

So you’ve finished your degree, you’re going out into the working world and… suddenly you realise you have to repay your student loan.  Luckily, we’ve come up with a game plan on how YOU can get debt-free ASAP!

EduConnect 2Cents

Studying full-time can be incredibly tough, but try to find some time to get a job on the side. Most education institutions have opportunities for students to work as tutors, residence student staff, library staff, and the like. These kinds of jobs not only help you financially, but they also assist you with getting a feel for how things work in the ‘big’ world, and how things work in your field of study.

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