Step 3: Finance it with Eduloan
Eduloan’s salary deduction option
Once you have decided what to study and where, all that's left to do is to finance it through Eduloan. Eduloan has specialised in education finance for more than 14 years and because of our focus, we're able to offer study loans tailored specifically to people with full-time jobs, applying either for their own personal part-time studies or for the studies of a dependant or relative.
The easiest way to manage your loan repayments is through our salary deduction facility. These salary deductions are not only restricted to yourself, you can also use them to support your children as they embark on their tertiary education. In addition, we offer comfortable repayment terms giving you fixed repayment options over a 6 to 22 month period. In order to qualify for the salary deduction facility, you need to be in fulltime employment and your employer needs to have an agreement in place with Eduloan.
Eduloan has a responsible approach to financing people's education and therefore an affordability test is done for all loan applications. You can apply for a study loan, as long as the instalments do not exceed more than 25% (based on a one year loan) of your basic salary. The loan will be granted in line with what you can comfortably afford to pay back.
What's more, Eduloan will pay the amount you owe for your studies directly to the institution and then deduct the instalments from your salary, which means reduced admin for you.
If your employer is not currently one of our partners, contact us to find out how your company can be added to this list. Or visit our Become and Eduloan Employer page for more information.
Your quick start checklist:
Please provide us with the following when you submit your application form:
* Latest original pay slip or a certified copy
* A certified copy of your South African identity document
* Your laptop or study fee quote (if applicable) or statement from the educational institution
* Latest month’s bank statement to prove that you are an account holder and in permanent employment
* Three months bank statements if you are self employed
Apply today by filling out the application form and the above supporting documentation attached and fax to 0866 33 38 32. Or simply apply online now.
For more information or help regarding applications, you can:
* Phone the Eduloan call centre on 0860 55 55 44
* Visit one of the Eduloan branches located at major university campuses.
Click here to download our Terms & Conditions.
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