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Eduloan provides education finance to corporate employees and gives them fixed repayment options over a 6 to 22 months period. A salary deduction can be arranged which will allow for better management of monthly study loan instalments and will ensure that they are paid timeously. This significantly reduces the administrative burden for the employer as Eduloan will manage the direct payment of studies fees over to the institution of choice.
The study loan covers student related necessities including books, accessories, laptops and accommodation, as well as study tuition fees.
Eduloan has a responsible approach to financing people's education and therefore an affordability test is done for all applications. Permanent employees can apply for a study loan, as long as the instalments do not exceed more than 25% (based on a one year loan) of their monthly gross salary and must earn a minimum of R2 000 after the Eduloan deduction and before any other deductions.
In addition to the study loan product, Eduloan provides assistance to employers and institutions on their education finance administration management through institutional debtor management, guaranteed funds and education bonds.
For further information how to apply for one of these services, contact our Sales team on 011 670 6100 and one of our experienced consultants will gladly assist you.
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