Student loan is money borrowed from the government, private sector, organization and non-governmental organization in other to assist the student to pay for institution of higher learning when furthering their studies.
In South Africa the student loan is refered to as a bursary and in other countries refered as a scholarship. Student loans (Bursaries) are normally paid back by the student after the complition of their qualification. The bursary (Student loan) is normally paid back by working for the company or sector that funded your studies for the period they have funded you. lender in order to pay for college.
Institutions like banks also offers student loans and it is structured like a loan and can be paid back with interest that builds up over a period.
The student loan or bursary is usually used for tuition fee, registration fee, text books, accommodation, meals or other fees.
National Student Financial Aid Scheme (Student Loan)
National Student Financial Aid Scheme (NSFAS) is a South African government student financial aid scheme that aims to financially assist students to further their education at institutions of higher learning accredited in South Africa.
List of Banks Offer Student Loan in South Africa
- ABSA Student Loan
- First National Bank Student Loan
- Nedbank Student Loan
- Stardard Bank Student Loan
List of Government Sectors offer Bursaries in South Africa
- National Research Foundation
- Funza Lushaka
- National Disaster Management Centre
- Railway Safety Regulator
- Mining Qualifications Authority
- Land Bank
- West Coast District Municipality
- Mpumalanga Health Department
- KZN Human Settlement
- National Energy Regulator
- EC Department of Transport
- Department of Agriculture
- National Housing Finance Corporation
- Vhembe Municipality