Statistics show that South Africa is lagging behind global rates of educational participation. The South African government has therefore endeavoured to boost annual university enrolments from the current 900000 to at least one.5million by 2030, to have a greater education participation rate of 23%. This figure currently stands at an estimated 16%, lagging far behind the worldwide standard of 30%. An inexorable truth remains though: combined with the living costs, the cost of tertiary education has increased significantly over the past 10 years, with costs rising exponentially each year.
For many students, getting a student loan is the best way they can afford to further their studies. Student grants and loans would be the principal strategies by which poorer students access their advanced schooling. Statistics have revealed that an estimated 25% of students access commercial loans to finance their studies. Nedbank is a leading lender in South Africa, that has initiated a student loan package to supply a sense of financial security.
Nedbank student education loans cover tuition fees, accommodation, books and study-related equipment. Offering competitive interest rates and flexible repayment terms during and after completion of studies, Nedbank realises that obtaining the right qualification is your key to success inside a highly competitive world.
The student loans are subject to a once-off administration fee and repayments are carried out via monthly debit order. Reapplication for every year of study is needed. Nedbank understands the different circumstances students face upon completing their studies and during their studies. For this reason the bank has effected grace periods for college students who've to complete internships, community service or articles to qualify in their field of study. Competitive Nedbank credit life insurance for death or disability is roofed.
For a comprehensive education loan intend to fit your educational and financial needs, the Nedbank Education loan is a worthy contender.
