Study loan requirements in South Africa depend on the bank, but they share a pattern: proof that you are registered or accepted at an accredited institution, proof of what the course costs, and a guarantor, parent or sponsor with enough income. Some banks also set a minimum course length and require a South African citizen.
A study loan is credit from a bank for tuition, books and accommodation. It carries interest and must be repaid, and the person who signed for it is liable if repayments stop. The examples below come from the banks’ own pages.
Eligibility Requirements at a Glance
- Nedbank: the course must be at NQF level 5 or higher and presented by a SAQA-registered institution. A full-time student who cannot repay needs someone who will pay for the loan; a part-time student with an income may not need one.
- Standard Bank: South African citizens only, at an accredited institution (SAQA, SETA, DHE, Umalusi or SACAA flight school), a course of at least 3 months, a minimum loan of R5,000 and terms of 12 to 120 months. Full-time students need one guarantor earning at least R3,000 a month, and part-time students must earn at least R5,000 a month.
- Absa: the applicant must be a South African citizen or permanent resident earning more than R3,000 a month, or a parent, sponsor or guardian with proof of income can apply. The course must be longer than two months, and the loan covers one year at a time.
If you want to study on a loan and have no sponsor, a part-time student with their own income may qualify at some banks (see above). Otherwise expect to need a guarantor.
Income and Affordability Requirements
Because most full-time students have no income, the income test usually falls on the guarantor or sponsor. At Standard Bank that person must earn at least R3,000 a month, and at Absa the applicant (student or sponsor) must earn more than R3,000 a month.
The NCR’s standard affordability regulations do not apply to school and student loans (see the NCR affordability release), but banks still check income and credit record under their own rules. Confirm what your bank will assess.
Credit and Financial Requirements
Nedbank does not set a minimum credit score for student loans but may decline an applicant because of irresponsible borrowing history. Its interest for full-time students is linked to academic performance. Interest rates change, so ask each bank for the current rate.
Standard Bank gives a 6-month grace period after you complete your studies before you take over the repayments. Meanwhile the guarantor pays the interest and fees and is liable if the student defaults. Nedbank similarly says the guarantor pays interest only while you study, and capital repayment starts after you finish.
Absa says credit life insurance is mandatory for all its study loans. Check whether your bank requires it.
Documents and Verification Required
- Nedbank: your matric certificate for a first-year application or your latest exam results, proof of registration or an acceptance letter, and invoices for fees, textbooks and approved accommodation. You apply once a year.
- Standard Bank: IDs for the student and guarantor, proof of residence not older than 3 months, the guarantor’s last 3 months’ payslips (plus bank statements if not a Standard Bank client), your registration or acceptance letter, proof of costs and your latest academic results. Both of you attend a branch.
- Absa: a valid South African ID or smart card, proof of residence, your last three months’ payslips or bank statements, a letter of acceptance or proof of registration, proof of course costs and previous results for later years.
How to Apply and Improve Approval Readiness
Start with the bank’s own student loan page and get its checklist, then collect the documents with your guarantor. Apply once your acceptance letter and fee invoice are available, because every bank above asks for them.
Before borrowing, check whether NSFAS or a bursary can fund you instead. See NSFAS requirements. Current NSFAS loan scheme criteria were not confirmed for this page, so check the NSFAS website.
Compare how each bank treats interest while you study and what the loan covers, since tuition, books and accommodation may be treated differently.
Frequently Asked Questions
What is a study loan?
A study loan is credit from a bank for tuition, books and accommodation at an accredited institution. It is repaid with interest, and it usually involves a guarantor, parent or sponsor who takes responsibility for it. It is not a bursary, which does not have to be repaid.
What are the requirements for an education loan?
An accredited course, proof of registration or acceptance, an invoice for the costs, your results, and income documents for the guarantor or applicant. See the bank-by-bank examples above.
Can I get a study loan without a sponsor?
Possibly, as a part-time student with your own income. Standard Bank requires part-time students to earn at least R5,000 a month. Full-time students usually need a guarantor.
Do I repay while studying?
Often the guarantor pays interest only during your studies, and you start paying capital afterwards. Standard Bank gives a 6-month grace period after you finish. Confirm the arrangement with your bank.
Do I need credit life insurance?
Absa says it is mandatory for its study loans. Ask other banks.
What credit score do I need?
Nedbank sets no minimum credit score for student loans, but irresponsible borrowing can lead to a decline. No universal minimum is published.
How long can I borrow for?
Standard Bank offers terms of 12 to 120 months. Absa loans cover one year at a time, and Nedbank asks you to apply once a year.
This page is general information and not financial advice. Confirm current criteria, rates, fees and terms with the bank, and consider free debt counselling if you struggle with repayments. See loan requirements and browse all finance and funding requirements.