You've checked NSFAS, applied for a bursary, and you still have a gap between what you've been offered and what your studies actually cost. A Standard Bank Student Loan closes that gap. Before you sign anything, work through this guide - it walks you through exactly what the loan covers, whether you qualify, how to apply, and what repayment actually looks like once you graduate.
What the Loan Covers
Use the loan to pay tuition fees first - that's its core purpose. Depending on the amount you're approved for, you can also put it toward textbooks, accommodation, and other study-related costs like a laptop or study materials.
Remember that this is borrowed money, not a grant. You'll repay the full amount plus interest once your studies end, so treat it as a bridge, not free funding.
Exhaust your bursary and NSFAS options first. Neither requires repayment, so a loan should only cover what's genuinely left over after you've applied everywhere else.
Who Qualifies?
Register, or show proof that you're about to register, at an accredited South African tertiary institution - Standard Bank won't consider your application without this.
If you're under 18 or don't yet have an established income and credit record, bring a parent or guardian on board as a co-signer. Standard Bank assesses affordability based on whoever is legally responsible for repaying the loan, so a co-signer with a stable income genuinely strengthens your application.
Check your own credit record too, if you're applying as the primary borrower. A poor repayment history elsewhere can affect the outcome, even if your income looks fine on paper.
How to Apply
Start your application online through Standard Bank's website, or visit a branch directly if you'd rather talk to someone in person.
Gather these documents before you begin, so you're not stuck mid-application:
- Proof of registration or a formal offer of admission
- Your South African ID document
- Proof of income for the co-signer or responsible party
- Proof of residence
Compare the interest rate and repayment term against any other funding options you're considering before you commit. A slightly higher monthly instalment now can mean thousands more in interest by the time you finish repaying, so read the full cost breakdown, not just the headline rate.
Repayment
Expect an interest-only repayment structure while you're still studying, in most cases. You pay just the interest each month, keeping your instalments low during the years you have the least income.
Full repayment - covering both capital and interest - typically kicks in once you graduate and start earning. Confirm the exact structure with Standard Bank before you sign, since terms can vary based on the loan amount and your specific agreement.
Build a repayment budget as soon as you know your instalment amount, even while you're still studying. Missing repayments damages your credit record, which can follow you well beyond your student years and affect your ability to rent an apartment, get a cellphone contract, or take out credit later in life.
Contact Standard Bank immediately if you know you're going to miss a payment, rather than letting it lapse. Lenders are generally more willing to arrange a revised payment plan when you reach out proactively than when they have to chase you.
Frequently Asked Questions
Is a Standard Bank Student Loan the same as a bursary?
No. A bursary doesn't need to be repaid. A student loan must be repaid with interest once you finish studying, so use it only after you've exhausted bursary and NSFAS options.
Do I need a co-signer to qualify?
Usually yes, especially if you're a young student without an established income or credit history. Standard Bank assesses affordability based on whoever is responsible for repayment.
What can the loan be used for?
Tuition fees primarily, and depending on your approved amount, textbooks, accommodation, and other study-related costs too.
When do I start repaying the loan?
Many agreements let you pay interest only while you study, with full capital-plus-interest repayment starting after you graduate. Confirm your specific terms before signing.
Should I take a student loan before applying for a bursary or NSFAS?
No. Apply to bursaries and NSFAS first, since neither requires repayment. Only borrow to cover whatever genuine gap remains afterward.
What documents do I need to apply?
Proof of registration or admission, your ID document, proof of income for the responsible party, and proof of residence.
Can I apply for the loan online?
Yes. Standard Bank offers both an online application and in-branch applications if you'd prefer to apply in person.
What happens if I miss a repayment?
Your credit record takes a hit, which can affect you well beyond your student years. Contact Standard Bank as soon as you know you'll miss a payment, rather than letting it lapse silently.
How does the interest rate compare to other funding options?
Compare the full cost - interest rate plus repayment term - against every other funding source you're considering before committing, not just the monthly instalment amount.