Should you find yourself rejected from NSFAS or you're planning on studying at a private institute, Fundi could be the way for you to pay for your fees.
Fundi offers study loans to primary, high school, and varsity students. Fundi covers all things education finance from tuition loans, device loans, to MBA loans.
Fundi funds students from public and private universities and colleges as well as TVET colleges.
This student loan will cover not only course fees, but additional expenses such as textbooks, registration fees and technology which includes laptops, tablets and other study equipment that may be associated with your studies.
The requirements for Fundi are:
- be a South African resident (you must provide proof of this with your ID and proof of residence)
- be permanently employed or have a parent who is permanently employed (you must provide proof of this with a letter from your employer confirming this; your last receipt of salary and your latest bank statements)
- must be in good standing in terms of your credit profile as you will not qualify if you are under credit or debt review. This is so that Fundi can see that you are able to repay the loan that they are providing.
To find out about how to apply for Fundi, you can read here.
After Fundi accepts your application for a loan, they will then pay all your education-related expenses straight to the institution you're attending.
Your repayments may be deducted from your salary or paid through debit orders.
You might have to pay interest on your loan but just how much will depend on how much money you earn each month if you already have other loans taken out, if you have unpaid card bills and other monthly expenses you have.
For more information on the Fundi Loan, click here.