How it works

Accessing your Student Loan account
Tuition and accommodation will be paid directly to the institution and place of residence whilst funds for books will be transferred to the transactional account.

Insurance for your Student loan
We recommend that you take out a Personal Loan Protection Plan to pay the outstanding balance on your loan in the event of death, dread disease or disability.

What else do you need to know?
Student Loans are granted for a specific year of study and you will have to reapply for each year of registration.

There is a maximum amount granted for each year of study.

The course and institution that you choose for your studies must be accredited by at least one of the following bodies:

  • SAQA;
  • SETA;
  • Umalusi; or
  • Department of Higher Education (DHE)

A once off initiation fee and monthly service fee will be charged on your student loan.

Keep in touch
We would like to know how you are progressing with your studies, so we would like to see your marks and proof of registration or qualifications by 31 March every year.


Loan repayment

If you are a full-time student, you will only need to start repaying your loan on completion of your studies. During your time of study, your surety will need to pay the monthly interest and service fees. The payments will be charged to your surety’s bank account.

You will be granted a grace period for capital repayments after you have completed your studies and have not found employment. The grace period may be extended if you have to complete your articles, internship or community service.

If you are a part-time student you will need to repay your loan while you are studying.

Monthly payments must be made by debit order.

You will be required to repay your loan immediately, if you do not complete your studies.

Once your loan is in repayment the monthly repayments will not change. If you are a part-time student the monthly repayment will change whenever you increase the limit on your loan while studying.

The repayment period of your loan will be affected by one or more of the following:

  • Paying more than the minimum monthly installment
  • Changes in the interest rate.


How to Apply

To apply for a Student Loan you need to be registered at an accredited tertiary institution and be studying towards:

  • a certificate;
  • a diploma;
  • a degree; or
  • a postgraduate degree or diploma

In order to be considered for a Student Loan, you need to provide academic results showing that you have passed your previous year of study. Outstanding fees owing to your academic institution cannot be financed by a Student Loan therefore you must apply before starting your course.

Income Criteria

  • Degree and Diploma: Your surety should earn a minimum income of R3 000 per month.
  • Other Courses: Your surety should earn a minimum of R5000 per month.
  • Part Time students who earn R5000 or more do not require a surety.

How to apply for a Student Loan

Please ensure that you have your 2016 final academic results before applying for a Student Loan to finance your 2017 academic year. 


You can apply online at


If you are a:

  • full-time student ;
  • part-time student earning an income of less than R5 000 a month; or
  • a minor (under the age of 18 years)

You will need to have someone who is acceptable to us to sign as surety.

Our application process has changed making it easier for you to apply for your loan!


When you complete your online application, you will receive an instant outcome. If your loan is provisionally approved then you will need to take the following documents to your selected branch:


Document Full-time student Part-time student (Income >=R5000) Surety
Three Months bank Statement (Non-SBSA customers) X X
Latest Payslip X X
Identify Document  X X
Proof of Costs (Tuition, Accommodation, books and Equipment) X X
Proof of Residence (e.g. utility bill) X X X
Proof of Registration or Acceptance Letter X X
Latest academic Results X X


For general queries on your Student Loan account contact Customer Care line on 0860 123 000