To get a Standard Bank student loan you must be a South African citizen who has been accepted at, or is studying at, an accredited institution. Full-time students need a surety (a guarantor) with a minimum income of R3 000 a month; part-time students must earn at least R5 000 a month themselves. Details are on the bank’s student loan guide.
Applications for the bank’s older no-surety student loan are closed, according to a notice on its student loan page.
Eligibility Requirements at a Glance
- You must be a South African citizen, 18 or older, accepted at or currently studying at an accredited institution.
- Full-time students need a surety; students who are self-assured may apply independently.
- The surety is also responsible for repaying the loan if you cannot.
- The bank’s earlier no-surety student loan (for households earning under R600 000 a year, with a Standard Bank transactional account) is closed to new applications.
Income and Affordability Requirements
- Full-time students: a surety with a minimum income of R3 000 a month who signs surety and covers the monthly interest and fees while you study.
- Part-time students: a minimum income of R5 000 a month, and you make repayments while studying.
Repayment of the loan amount starts once you have finished studying, within at least six months after completion. The bank’s online quote is an estimate only and is valid for 7 days.
Credit and Financial Requirements
The bank pages we checked do not publish the interest rate, initiation fee or monthly fees for the student loan, and the quote is personalised. Confirm the full cost on your quote before signing. Approval is the bank’s decision and is not guaranteed.
Documents and Verification Required
- Your ID.
- Your latest 3 months’ payslips and 3 months’ bank statements (for non-Standard Bank clients).
- An acceptance letter or proof of registration from your institution.
- Proof of the costs of tuition, accommodation, textbooks and equipment.
- Proof of academic results from your latest academic year.
- Your surety’s ID, payslip and bank statement as well. Both of you must be present at the branch.
How to Apply and Improve Approval Readiness
Get a quote online on the bank’s student loan page, then complete the application at a branch with your surety and documents. Tuition and registration are paid directly to the institution and accommodation to the landlord. Equipment of up to R20 000, such as a laptop, and textbooks are paid into the surety’s account (or yours if you are self-assured).
Frequently Asked Questions
What are the requirements to apply for a Standard Bank student loan?
Be a South African citizen aged 18 or older at an accredited institution, have a surety earning at least R3 000 a month (full-time) or earn R5 000 a month yourself (part-time), and supply the documents listed above.
How do I renew an existing Standard Bank student loan?
The bank does not describe a yearly renewal procedure. If you already have a student loan, its quote page directs you to the Student Loan Portal to increase your limit.
When does repayment start?
For full-time students, the surety covers interest and fees while you study. You start repaying the loan once you have finished studying, within at least six months after completion.
Can I get a Standard Bank student loan without a surety?
Not at the moment. The bank notes that applications for its Standard Bank-backed no-surety offering are closed. Part-time and self-assured students may apply independently.
What are the loan terms, fees and interest rate?
They are not published on the bank pages we checked and depend on your quote. Ask Standard Bank for the written quote and read the credit agreement before you sign.
Confirm current requirements with Standard Bank before applying. See finance and funding requirements and browse all loan requirements.