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Financial assistance

Student Loans

With the rapidly growing need for student loan finance to fund education and ultimately address the current rampant youth unemployment in South Africa, our student loan advisor from CTU is here to assist our current and prospective students with the application process in obtaining and applying for a student loan. The partnership with all major banks and credit providers increases your chance of being approved. Our student loan advisor assists with the application and administration process, ensuring a quick, easy and stress-free application.

Important to know

The Sponsor and student must be South African citizens with a valid ID number/document

  • The Sponsor and student must be South African citizens with a valid ID number/document
  • Sponsor must be permanently employed for at least 3 months
  • Student loans can only be paid out once the student has passed their most recent year of study. i.e. they need to have passed matric to get the loan paid out for their first year etc. Loans can however by preapproved in the interim.

Loan Repayment

The Sponsor and student must be South African citizens with a valid ID number/document

  • If you are a full time student, you will only need to start repaying your loan on completion of your studies.
  • Your surety will be responsible for the monthly interest and service fees during your time of studies. Payments will be charged to your surety’s bank account.
  • You will be granted a grace period for capital repayments after you have completed your studies and before being employed. If you are a part time student you will need to repay your loan while you are studying.
  • Monthly payments: debit order.
  • If you do not complete your studies you will be required to repay your loan immediately.
  • Once your loan is in repayment the monthly repayments will not change.
  • If you are a part time student the monthly repayment will change whenever you increase the limit on your loan while studying.
  • The repayment period of loans will be affected by one or both of the following:
  • Paying more than the minimum monthly instalment
  • Changes in the interest rate

How to apply

We understand that applying for a student loan can be intimidating. CTU and Student Hero will gladly assist in facilitating your application. Important: You need to be a registered CTU student or a prospective student that has received a provisional letter of acceptance to apply for a student loan.

Income criteria:

  • Full time student;
  • A part time student earning an income of less than R5 000 a month; or
  • A minor (under the age of 18 years).
  • You will need to have someone to sign as surety who is acceptable to us. This person will need to earn a minimum income of R5 000 a month (Part time students who earn R5000 or more do not require a surety.)

Example of monthly repayments, based on a minimum tuition fee of R50 000:

The sponsor must earn a minimum of R5000 net income and have a clean credit history – no payments in arrears, or under debt review. Example of monthly repayments:

  • Tuition – R50 000
  • R50 000 * 16% interest / 12 months
  • Estimated monthly repayments – R666 interest only; payable by the sponsor

In year 2, if a second loan is granted, the monthly repayments will double. Once a student graduates he/she takes over the loan and is responsible for the monthly repayments which include capital and interest. Interest is between 10-16% depending on the risk profile of the sponsor.

  Click here to apply

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