There are many financial institutions in South Africa, each of them with its own set of requirements for your study loan application. However, there are some mandatory requirements for all institutions:
- You must be over the age of 18
- The main debtor (i.e. your parent/guardian) who is responsible for signing the loan for you, also known as your “surety”, must earn a certain minimum income each month
- You must be registered as a student at a South African tertiary institution
- Academic requirements: There are typically minimum academic requirements to qualify for a student loan. These requirements may vary based on the level of study (e.g., undergraduate or postgraduate) and the field of study.