Funding Assistance

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.

• 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.

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.

1. Three months bank statements (Non-Standard Bank / ABSA customers)
2. Latest Payslip 
3. Identification Document
4. Proof of cost (CTU will provide tuition fee information. Please include a quotation for your accommodation should  you want to include this in your loan application)
5. Proof of residence (e.g utility bill, not older than 4 months)
6. Proof of acceptance from the tertiary institute
7. Latest academic results