Eduloan aims to unlock potential through its commitment to making education both affordable and accessible to all individuals looking to further their education. Eduloan realises the real costs of education and how stressful paying for this can be. Their study loans are affordable and have very low interest rates.
Since inception in 1996, Eduloan has awarded over 720 000 study loans to the value of more than R3.7 billion. These loans are useful for covering course fees, textbooks, registration fees and technology costs (such as laptops, tablets and other study equipment.)
The application process:
Students looking to further their studies can simply log onto www.myeduloan.co.za and complete an application form. They will also need to provide a certified copy of a South African I.D. and a quotation from an educational institution, with their name, student number, study program and the amount due for payment. A recent payslip of their sponsor will need to accompany documentation, along with the sponsor’s bank statement for the last 3 months. If the sponsor is self-employed, 6 months’ bank statements and proof of business ownership will need to be provided.
A registered credit provider, Eduloan encourages students to apply only if they can afford to repay. There is a handy loan calculator online for working out how much money will be expected to be paid back.
To benefit from Eduloan’s reasonable and affordable study loans, SMS “edu” to 32150 and a helpful consultant will call you back. SMSes are charged at R1. You can also call 0860 55 55 44.