A Student Loan that makes online learning possible
Need a laptop to join your online classes? We’ve made it easier for you to access the equipment you need with our new Student Loan offering.
Online studies have become part of the new norm around the globe. Due to the abrupt shift away from the classroom, many students were left unprepared with no access to online classes happening on platforms such as Zoom.
Whether you’re busy with a short course or an MBA, having the right gear is crucial to make online learning work. In an effort to assist students with studying online, we have made some changes to our Student Loan offering to make it easier to get funding for study equipment such as laptops, tablets and software.
How does it work?
Our Student Loan can be used to pay for your tuition fees, textbooks, accommodation and study equipment; or, as of now, you can simply apply for textbook and study equipment funding, without having to apply for tuition as the primary of your Student Loan.
How do I apply for a Student Loan or get extra funding for a laptop?
South African citizens, both existing Standard Bank customers and those who do not bank with us, can apply online using the Standard Bank Online Quote process. Applications will be assessed using our normal student loan process. The minimum loan amount for study equipment is R5 000 per year while the maximum loan amount is R20 000 per year.
If your application has been approved online, you and your surety will need to visit your nearest Standard Bank branch within 7 days of approval to take up the offer. You will need to provide all supporting documents, including a registration letter from your university or institution showing that you are currently studying, as well as proof of costs for textbooks and equipment should you require an amount greater than R6 000.
If you have an existing Standard Bank Student Loan, you can access funding for study equipment if you qualify for a limit increase and have not already used the R20 000 maximum available for books and equipment.
Online learning is the future of education, and education is key to the growth of our country. By expanding our Student Loan, we empower students to continue to learn, no matter where they are.