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How does Fundi Student Loan work? | Estimate Payments

How exciting it is to start planning for your future or your children’s future. Isn’t it? However, this excitement may be overshadowed by not knowing how to afford the long list of things you or your child need to pursue an education. In this article, we want to talk about a solution to that question: Fundi Student Loans. Here you will learn about this loan, how it works, how and what you need to apply for it, you will learn about how to calculate repayments and much more information.

What is Fundi Student Loan?

This company started in 1996 as Eduloan and then expanded and became Fundi. Their mission is to allow people to make their dreams come true. They do this by funding your education experience. The good thing about their loans is that they cover from undergraduate studies to postgraduate courses and MBAs. With this loan, you can also fund one or two small courses that may help you advance your career or studies. Fundi student loans will enable you to cover all the expenses related to your studies.

How does Fundi Student Loan Work?

Since its establishment as a private student loan provider, Fundi has assisted over 800 000 families in South Africa in their quest for a career. We were actually able to find many positive comments from students who finished their studies thanks to Fundi.

To apply for a Fundi student loan you need to fill in an online application. In this form, you will have to enter your name, your e-mail address, your cellphone number and write a short message informing Fundi what type of loan you want to apply for. After Fundi has processed your information, they will get back to you and you will have to provide them with certain documents for them to decide if they accept your request or not.

But how do their loans work? Their loans are unsecured, that is you don’t need to provide anything as collateral. After you’ve been accepted to their loans, your education-related expenses will be paid by Fundi directly to the institutions. Your repayments may be deducted from your salary or paid through debit orders.

How to Use a Loan Calculator to Make Sure a Fundi Student Loan is Good for me?

Requesting a student loan is a serious matter that needs careful consideration. Yes, you’re investing in your future or your child’s future, but you should do it wisely. Can I afford it? Will I able to pay for the repayments? Does this company offer competitive interest rates? If you are asking yourself these questions, then you are on the right path.

A word on interest rates must be said. This figure will depend on your financial situation. Things like how much money you earn each month if you already have other loans taken out, if you have unpaid card bills, and the like, will have an impact on the interest rate Fundi might be able to give you.

That said we can go on to tell you where to find a calculator to simulate your loan. This will be useful for you because you will have an approximate idea of how much money you would pay each month, over what term-period, and with what interest rate. To help you out with this, we’ve developed a loan calculator. Enter the amount of money you’d need to borrow and the time period you think you might be able to repay it. Next, you will find a list of options from different credit providers. In this way, you will both get to know the amount you’d have to pay and which company offers the best interest rate.

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What kind of Coverage can I get with a Fundi Loan and what are its Requirements?

Before we talk about what you can cover with a Fundi Loan, you need to know the requirements you need to meet to apply for it. Since this company has as its core value to make education finance affordable for South Africans, their requirements are a little less stringent than those requested by banks.

All they want is for you to advance in your career while being able to pay back for your loan. For this reason, they will require you (the student) or one of your parents to have a permanent job. Also, you cannot be under credit review; thus, you have to be in good standing as regards your credit history. You will be asked to provide a copy (certified) of your South African ID; a letter from your employee confirming you work for them; your last receipt of salary; your latest bank statements (last 3).

Now that you know you qualify for their loan, you may want to know what you can cover with a Fundi Student Loan. With Fundi, you can rest assured that everything in your studying experience will be taken care of. We’re talking about tuition fees, accommodation expenses, books, reading material, computers, uniforms, and stationery.

What are Fundi Student Loan Contact Details?

Many people keep telling us that they have trouble finding student loan applications for Eduloan. The reason they cannot find them is that as of October 2016 Eduloan was rebranded: it is now called Fundi.

Once again, we want to emphasize that Fundi has accessible student loans and also very positive testimonials from people who were able to study with the support of their loans. If you’d like to give Fundi a try you can contact them through these channels:

  •            Online through the online form
  •            Over the phone on 0860 55 55 44
  •            Through e-mail at support@fundi.co.za 

Applying for a student loan is an important business. You must weigh your options to make the better call. This was our aim here, to show you one option to finance your education. Fundi is a reputable company that offers student loans in South Africa and that aims to make them accessible and affordable. Now you know how these loans work, what you need to qualify for them, where to apply, and how to contact them. In Fundi, you can find a partner to help you achieve your goals.

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Questions and answers

My granddaughter wants to go to a culinary school for a part-time course, but I'm a pensioner, can I qualify for her student loan?

Certainly, yes. The financial company Fundi only requires its possible clients to show proof of income and recent bank statements. Therefore, providing that you have enough income every month to afford the monthly instalments, you can apply for a student loan on behalf of your granddaughter. In this way, she will be able to attend a culinary school for a part-time course. 

My daughter is a student and I am a pensioner. I receive a steady monthly income. Do I qualify for a loan?

Certainly, you do. One of the main requirements for Fundi to grant students loans is that the applicant shows proof of income. You can apply for a loan on behalf of your daughter's name. Usually, the foundation will ask you to provide your recent bank statement and your last three payslips. 

Can I study and pay later when I am working?

Sadly, this will not be possible. Fundi requires all of its potential clients to show proof of income. For this, you, a parent or your tutor must have a permanent job. The company will analyse the applicant's economic situation and credit history to determine the amount of money you can borrow to cover your studies. 

Can I apply for Fundi now? And can it pay for a module that my current bursary (NSFAS) won't pay for?

To be able to apply for a student loan with Fundi, it is extremely important that you show proof of income and that you have a permanent job. If you comply with these two requirements, there will not be any problems for the company to give you the money you need for a module. 

My daughter is a full time student at Rosebank College, doing B. Ed in Education. She is currently unemployed because she is still a student.Can I make her monthly payment if you can offer her a student loan for her accommodation as a parent?

If your daughter is a full time student at Rosebank College, doing a Bachelor in Education and wish to apply for a loan with Fundi but she is unemployed, a parent or sponsor can start the application process. That is to say, if you, as a parent, have a permanent job with a fixed monthly income, you can obtain the money to pay for her accommodation. 

Can I be able to get a study loan If I work for the Department of Education?

One of the requirements to be able to apply for a student loan with Fundi is that the applicant has a permanent job with a regular monthly income. So if you work at the Department of Education and wish to take a loan, you will just need to show proof of income and a positive credit history. 

Can I repay Fundi loan only when I start working myself not my sponsor?

The company Fundi offers students loans to people who need economic aid to pursuit their courses of study. Usually, the most important requirement is that the applicant has a permanent job with a regular monthly income to be able to pay the instalments. However, if you are not employed, the application can be completed by a parent, a tutor or sponsor who may pay the monthly fees until you get a job. 

Can Fundi give you a loan if you are not working and you are an independent registered student?

One of the main requirements to obtain a student loan with Fundi is to have a permanent job. The applicant must show proof of income and submit their last payslips. The applicant must prove they have the necessary monetary means to afford the monthly instalments. A a payslip will be considered as a guarantee for the repayment period. 

Can I apply for a Fundi loan to settle my outstanding varsity fees even though I will not be enrolling at the university because I have completed my program and in desperate need of my certificate?

Usually, Fundi provides economic aid to students who wish to enroll in courses at an university or college. The purpose of the student loan is to fund the entire studying experience including accommodation, supplies and all the expenses related to your studies. In your particular case, you will need to contact any agent from Fundi to see if they can help you settle the university fees when you are not longer studying. 

Can you apply for Fundi if there is no one working at home?

No, unfortunately, you cannot. In order to apply for a student loan with Fundi, it is vital that the student, a parent or tutor has a permanent job. The company requires the applicants to earn a regular and steady salary, and to show proof of it by proving their last payslips. 

Is it possible to apply for the loan while I do not work so as to pay in the future?

No, this is not possible. To be able to apply for a student loan with Fundi, the applicant needs to have a permanent job. The company requires the students, parents or tutors to earn a regular and steady salary  so as to be capable of affording the monthly instalments. It is indispensable to show evidence of income such as a payslip. 

Greetings, I'd love to study Auxiliary Nursing. How much can it cost,and how will I be able to pay for it in future?

If you wish to study Auxiliary Nursing and you would like to know about the cost of your course, first you need to ask about it at the university or college you would like to attend. Then, you can start the application process for a loan with Fundi, providing that you are permanently employed, have a positive credit record and show proof of income and residence. 

Can a student get a loan and pay it back when the student is working?

This is not possible. One of the requirements to apply for a student loan with Fundi is that the applicant is permanently employed as the company needs to have proof of regular and steady income. In this way, Fundi makes sure that the applicant will have the means to afford the monthly instalments. 

I want to know who is paying back the loan. Is it the student when she finishes studying or is the parent?

To be able to obtain a student loan with Fundi, the student or their parent or tutor must have a permanent job so as to show proof of income. This will function as a guarantee during the repayment period, which means that the permanent employee will be in charge of paying the fees. The application process can be made on behalf of the student's name or their parents' name. 

My son is currently studying at UCT, 1st year, Civil Engineering. I am a government employee. The course is less than R70 000 per year. How much will this special rate and the instalment be per month?

If your son is currently studying Civil Engineering at UCT and the cost of his study is less than 70.000 rand per year, first it is important to determine the interest rate. This will depend on the applicant's affordability capacity and credit record. For instance, for a loan of 70,000 rand with an interest rate of 13.5% to be paid in 12 months, the monthly fee would be about 6,446 rand. 

Does Fundi Student loan cover the tuition from private colleges?

Of course, it does. The financial company Fundi grants students loans to cover expenses from undergraduate studies to postgraduate courses and MBAs at both private and public universities or colleges. Fundi will support applicants who need economic aid to complete their education experience. The process of application is super simple and very accesible. 

Does Fundi study loan also accommodate students who need loan to pay their already existing debts for their studies (e.g someone who has completed the studies but sill owing the University)

Unfortunately, you will not be eligible for a student loan with Fundi if you owe money to the University. It is vital that all the applicants show a positive credit record in order to apply for a loan with any financial institution. That is why, companies require their clients to be reliable and responsible with their payments. 

If my mom is a pensioner, can I still apply for the loan?

Yes, of course. To apply for a student loan with Fundi, it is important that you or your parents show proof of income as this will function as a guarantee. The institution will ask the applicants to hand over some documentation and to have a regular monthly income so as to prove that you can pay all the fees on time. 

Can Fundi give me a loan for a Laptop only?

Unfortunately, this is not possible. Fundi is a financial institution that provides economic aid to South African students who need money to study or who need support for their future career. With a student loan, applicants can pay accommodation, supplies and all the expenses related to their studies in general. For this reason, the company provides full education funding.

Can I apply for the loan this year only and be able to renew it next year when I still need financial aid?

First of all, to make sure you are able to apply for a student loan with Fundi, you need to provide proof of income by having a permanent job. Also, you will have to provide more details in the application form such as your salary, the amount of money you would like to borrow and a short message to inform what type of loan you want to apply for. The company will analyse all the information and decide whether you can obtain the money or not. If you have a positive credit record and comply with all the requirements, you will be able to renew it next year. 

How much does the loan deduct from the salary of a government employee?

That depends on every case. That is to say, the amount of money that will be deducted from your salary will basically depend on your affordability capacity and your credit record. That is why, Fundi needs to assess the applicant's economic situation to determine how much money to grant and how much money to deduct from their income.

I want to study teaching for three years and the cost is R60 000 in other words is R20 000 per year, so how much will I pay every months for 36 months?

If you wish to study teaching for three years and the total cost is about 60.000 rand, the amount of money you will be paying back will depend on your credit score and your affordability capacity. In overall terms, suppose that the interest rate is 14%, in a period of 36 months, you will be paying instalments of about 2.146 rand approximately. 

Do you accept students who live with their unemployed parents who only survive by Sassa grants?

Fundi will unfortunately not grant any type of loans to students or their parents who do not have a permanent job. In other words, one of the conditions to be eligible for a student loan is that either you or your parents provide proof of income via the last payslips and bank statements. 

Can I apply for Fundi when there is no one at home working? then you have to take the money from my salary when I start working after finishing at the institution.

Unfortunately, you will not be able to obtain a student loan with Fundi if you do not provide proof of income. The company needs to make sure you have enough money to afford the instalments and that you have a positive credit record. One of the conditions to qualify is that you or your parents are in full employment. 

Can I qualify for Fundi loan if I earn R3500 salary?

To determine if you qualify for a study loan with Fundi, there are certain requirements you need to comply with. You must provide proof of income via your last payslips and bank statements. With a salary of 3500 rand, you will probably be eligible for a loan. Also, it is important to have a a favourable credit record as if you have any debts you will not be selected. 

Can someone who is doing an internship apply for this loan?

If you wish to apply for a student loan with Fundi as you are doing an internship, you can qualify for it providing you show proof of income and the latest payslip. There is an online application to fill out with all your personal information regarding your studies and employment. The application will be subjected to analysis to determine whether you can be eligible for the line of credit. 

I need R100 000 to pay for my tuition at UJ, registration and accommodation. My guardian earns R6000 per month. What is the interest rate?

If you need 100.000 rand to pay for your tuition at UJ, registration and accommodation, the lending company Fundi can provide your with economic support. The interest rate will be based on the evaluation that the company carries out on the amount of your monthly income, your affordability capacity and credit score.  

I am a Congolese that grew up in South Africa, however, I'm a non citizen but I have a refugee section 24 Permit that permits me to study and work. Do I qualify for Fundi student loan? And what are the interest rates if I need a loan of R100 000 to pay my fees, accommodation and for study related equipments and books?

If you are a Congolese that grew up in South Africa with a refugee permit to study and work, you can be eligible for a student loan with Fundi providing that you comply with certain requirements.  You must show proof of payment slips, proof of residence and your credit profile must be in good stead.

If I'm a student and I need a loan for devices for school and I'm unemployed at the moment. Is it possible applying and when will I start repaying the loan? Is there a certain period Fundi gives you till you start repaying the loan?

Unfortunately, you will not be able to obtain a student loan with Fundi if you are unemployed. In other words, if you need money to buy supplies for your school, you can only qualify by providing proof of income. Therefore, you need to have a permanent job. Another possibility is that your parents apply for the loan if they are in full employment.

How much of money you get per month for 4 years courses

For a four year course, the amount of money you can obtain with Fundi will depend on certain factors. First, the company will evaluate the amount of your monthly income and also your affordability capacity. Then, your economic situation will be subjected to analysis to determine whether you are eligible for a loan.

If you messed up your first year of university [failed it miserably and basically have to repeat it] and got dropped by your fee payer. Can your parent take out a loan to help you further your studies?

Considering that you failed your first year of university and you wish to apply for a Fundi student loan, your application will be accepted ony if your parent has a permanent job with proof of income. The lending company will require the 3 last bank statements and payslips so as to make sure you can afford to pay back the money. 

As a student with a mother having a permanent job, is it possible to apply for a loan that will cover all of study years and only pay when l have a job? I do not want my mom to pay anything.

Unfortunately, it is not possible. Fundi requires the students who are interested in applying for a loan to have a permanent job so as to make sure that they start paying the monthly instalments. In your case, the only way you can receive the loan is if you have proof of income which you mother apparently has. 

Will Fundi consider me if I already owe Nfsas?

To be able to qualify for a student loan with Fundi, it is fundamental that your credit profile is positive; that is to say, you do not have to incur any kind of debts as the company will carry out an analysis of your credit record. If they find out you owe money to a company, your application process will be rejected. 

I only need R11,000 for registration. Can Fundi help me?

If you only need a Fundi study loan of about 11,000 rand for an admission, the institution where you wish to study must have an agreement with Fundi. Then, you will need to have the necessary means to afford the monthly payments. For doing so, you or your parents must have a permanent job with regular income. 

How long does it take to repay the loan?

To determine how long it will take you to repay a Fundi student loan will depend on the amount of the loan itself and the payment method you choose. Based on your regular income or your parents' income and credit record, the company will arrange a convenient period of payment for you. 

You have to pay Fundi when you are getting a salary?

Yes, indeed. In order to be a beneficiary of a Fundi student loan, it is fundamental that you, your parents or your tutor are permanently employed since the compmay requires clients to show proof of income and a clear credit record. In this way, the company can make sure that the instalment will be paid in full.   

Hi, I want to study at Gauteng Central College and would like to apply for a fundi loan. My parent just got a permanent job and has not received his payment yet..so do I stand a chance to apply for a fundi loan?

If you wish to study at Gauteng Central College and would like to apply for a Fundi loan, you will need to comply with some requirements. It is important that Fundi has an agreement with the institution which you want to attend. Then, you or your parents will need to show proof of income with a permanent job and a solid credit record. 

I'm studying Professional cookery for a period of 1 year. How much do I qualify for if have an income of less than R 1000 ?

First of all, you need to make sure that Fundi has an agreement with the institution where you wish to study to see if you can request a study loan. If it does, then you will be able to calculate the amount you can receive based on your income by using the online loan calculator, which can be found on the website. You will also be able to choose the payment method type and the payment period. 

Can I qualify for a loan if I earn R4,500 a month?

If you wish to study with a Fundi Student Loan, you could do so if you earn R4,500 and receive a payslip that proves it. Also, you should have a clear credit record in order to ask for the loan at Fundi. If this is your case, then you should have no issue when asking for your loan at Fundi. 

Does Fundi study loan cover SAMTRAC courses?

Fundi covers a great range of courses and programs from different institutions and universities both in South Africa and abroad. However, to make sure if a SAMTRAC course is founded by Fundi, you should contact an agent and ask them to give you a list of the institutions they work with. 

I want to study Environment health for 1 year and I need a loan of R30 000.

To ask for a student loan at Fundi to study Environmental Health for one year, you would need to have a job or to have your parents or a tutor take the loan on your behalf. If this is your case, you should contact Fundi to request your R30,000 loan. 

If a person takes a loan of 70,000 how much will he/pay monthly?

This depends on the rate that Fundi can apply to the student loan of R70,000 and the repayment period chosen. For example, let us say that the interest rate offered is 18% and that the term is 3 years. Then, this person would have to pay every month R2,900, approximately. 

I want to study software engineer for only 3 months and need a loan for R30 000 please.

If you need a student Loan at Fundi to study software engineer for 3 months, you should contact Fundi to check if they have agreements with the institution with which you wish to attend. You or your parents or guardians should have a permanent work in order to qualify for this loan. 

I want to study for a course that is 3 years long, at a private Institution. Will Fundi loans be able to accept my application for a loan ? The school fees are R102K per year and the Accommodation R4K, will Fundi help me in this case ?

Fundi may be able to provide you with a loan for you to study this course as long as you or a sponsorship prove that you will be able to pay back the loan. You should also make sure if Fundi has an agreement with the private institution you wish to attend.

If your surname is not the same as of your parent, can your application be taken into consideration?

It will not be a problem for you if your parents do not have your surname, as long as they are your legal tutors. Also, you should bear in mind that if they are the ones who are going to pay back for your loan, they must be permanently employed and have clear credit records.

If I apply for a loan of R550 000 to study at Plymouth university, how much is the monthly installment?

When you apply for Fundi Student Loan of R550,000 to study at Plymouth University, your tutor will be asked to provide information about his or her financial situation. With this, Fundi will be able to establish which interest rate will be applicable to the loan. Also, you should decide on the term of the loan.

I want to know do u fund only for education or other course like hospitality or culinary arts?

Fundi does not only fund for university courses and programs. You can also study short courses on hospitality or the culinary arts. All you have to do is check with Fundi if they have an agreement with the institution you have in mind. Or you can ask them which institutions they work with that have that kind of programs.

How much would I pay for R50000 36 months?

If you need a student loan at Fundi you willl need to either work or have a parent or guardian ask for the loan on your behalf. This said, after Fundi studies your situation, they will be able to tell you which interest rate they can set to your loan. Let's suppose that for a R50,000 loan to be paid in 36 months you get a 24% interest rate. If this were the case, you would have to pay around $1,700.

Hi, do I personally have to have a job in order to be approved for a student loan?

You do not need to have a job in order to be approved for a student loan at Fundi. If you do not work, you can have your parents or a sponsor to request the loan on your behalf. This person should have a regular income and the installments of the loan will be debited from his or her bank account.

If your parent don't pay, can you pay after you have graduated?

No, your parents or your sponsor will pay every month for your Fundi Student Loan. You will not be able to wait until you graduate in order to repay for your loan at Fundi. This is the reason the loan must be requested by an individual with regular income and job.

Does Fundi approve to fund a student in health science courses?

The student loans offered by Fundi are meant for you to study whatever you want, including Health Science courses. What you should check out is if the institution where you want to go to has some sort of agreement with Fundi. Contact Fundi to ask if the institution you want to enroll in is an option or not.

How does one repay back the money of the student loan? Do my sponsor only pay the interest rate given or the whole amount plus interest monthly? How does it work?

Your sponsor will have to pay the amount you borrow plus the interest each month. Fundi student loans are not one of those that you repay after you graduate. On the contrary, your sponsor will have to pay the loan while you are studying. How will the sponsor pay? The sponsor should have his or her employer issue a stop order so that the money can be debited from there.

Who pays back the student loan, I have asked a family friend to be a representative since my parents are not employed under government.

The person who acts as your representative will be the one asked to pay back the student loan at Fundi. Fundi loans are to be paid while you are studying, this is the reason this company has the requirement that the person who asks for the loan must have a regular source of income.

Estimation for a short course that cost R15000 and I am paying for other loans, how much can I pay back monthly?

If you want to fund a short course with a Fundi Loan, you might be able to do so if you meet the requirements. How much you will pay each month is subjected to the repayment period and interest rate. For example, if you ask for R15,000 over 12 months you would pay R1,485 with a rate of 7% and R1,600 with an interest rate of 24%.

Can I get a loan to fund for my daughter's fees at Boston city campus?

You should contact Fundi to see if Boston City Campus has an agreement with them. However, what we can tell you is that Fundi does cover an enormous range of Universities and programs around South Africa and the world. This means that if you want, you might be able to study abroad with a Fundi loan.

Good day, I wanted to find out how much can I pay for 50000 student loan over 2yrs?

For us to be able to show you a more precise idea of how much you would pay in instalments for your study loan at Fundi, we would need more information about you. For instance, your income and the interest rate that Fundi can offer you. For example, if the interest rate was set at 17%, you would have to pay 24 instalments of around R4,600.

Can I apply if I'm unemployed? Or can my parent apply on my behalf?

At Fundi, you can apply if you are unemployed so long as you have a sponsor to back you up. This means that if your parents are employed, they will be able to act as your sponsors or guarantors, and you will be able to apply for the student loan at Fundi.

I am an international student with a South African sponsor who wants to take out a loan on my behalf. Is this a possibility?

If you are an international student, but you want to study at an institution at South Africa and your sponsor who is South African has a permanent job with a regular income, then you might be able to get the loan. Contact Fundi in order to start your application today.

My dad is South African, and he is not working but my mom who is Zimbabwean is working. Am I able to get the Fundi loan?

If your mother is not of South African origin, but she is a South African resident you will have no issues asking for an education loan at Fundi to study. However, if this is not the case, and she is working and living abroad, then you might not be able to ask for a loan at Fundi.

Can Fundi loans fund me if my parent earns R5000 a month.

If your parents are under permanent employment and earn R5000 a month, you might be able to be funded by Fundi to pursue your studies. You should check if you fulfil all other requirements, and you are all set. If you do, contact Fundi and start your education loan application.

Does Fundi also offer student loans to people who are in aviation?

Yes, at Fundy you might be able to apply for institutions related to the aviation industry. However, it is important that you should first contact Fundi to find out which institutions they have agreements with and to see if the one you want to go to is within that list.

Can fundi fund for my tuition and accommodation at the same time?

Yes, with Fundi you will be able to ask for finance so you can take care of the tuition of the college or education institution you choose as well as accommodation. Fundi also has a platform in which you can find accommodation lodgings in the community where you are studying.

Can students who are studying at a private institution apply for fundi?

If you or your child are studying at a private institution you can ask for education funding at Fundi. However, you should check with Fundi if that specific institution you are considering is within their list of accepted education centers. Also bear in mind that wit Fundi you can finance every step of the way in your child's education.

My daughter want to study at ISA Carstens Academy for 3 years. Will she be funded for the whole period, or will we have to apply each year for funds. Where can we check to see for the bursary opportunities. Is there a calculator to see my repayments?

If you apply for a study loan at Fundi for your daughter to go to ISA Carstens Academy for three years, then you would be applying for the whole duration of her degree. Up to this moment there are no calculators available at Fundi. For you to find out about bursary opportunities, you should contact Fundi.

Does it cover school fees?

With Fundi Loans you can finance everything in your education experience. This includes school fees, accommodation and textbooks. Also, if the school you want to attend requires you to, you can finance your uniform and stationary. In a way, Fundi Loans is there to help you every step of the way.

Can a person going to Ekuhruleni West College qualify to get a Fundi loan?

Fundi finances studies at every accredited education institution of South Africa, so you would not have any problems with asking for a loan to study at Ekuhruleni West College. Of course, you should meet the requirements of being over 18 and having a regular income. In the event you do not have a job, you can have someone as your sponsors (such as your parents).

My mother lost her job during this lockdown and now I'm worried about my future that will be squashed ... All I want to know chances of getting fundi loan if your parent not working now because of this lockdown.

If your mother is not working, you could consider asking someone else to be your sponsor. This person should be in permanent employment. If you have nobody to act as your sponsor, then, unfortunately, you will not be able to apply for a loan at Fundi since no changes have been made to this requirement on the face of the pandemic.

Does Fundi grant student loan for students who want to do culinary?

Of course, you can be financed by Fundi no matter what you want to study. All that you need to check is if the institution where you study is accepted by Fundi Loans. In any case, Fundi works with all accredited institutions of the country and foreign countries as well.

Do I qualify for the loan if I got no parent working and am also not working still a student?

No, unfortunately you will not be able to qualify for a Fundi loan to finance your studies if you do not work or you don't have a sponsor who works. In your case you should check out our webpage to find articles about scholarships and bursaries that might be an option for you.

Is there an age limit to qualify for this? At what type of institutions must I study? Can I do a short course?

With Fundi, you can opt to study at any private institutions that are accredited both in South Africa and abroad. You can also apply for a Fundi loan to do a short course if you want. The only age restriction is that you are over 18 years old when you enter the Fundi loan.

How can I apply?

You can apply for a Fundi Student loan online. If you are an employee of the Government you can qualify to special rates. With this financial institution you can study at various universities in South Africa and you can even study online. You can pay back this month monthly or have the money deducted from your bank account.

Can I be funded by fundi even though I am not working?

You will be able to be funded by Fundy to pay for your studies if one of your parents or a tutor has a way of proving that they have a regular salary from a permanent job. If you do not have someone to account for you and act as your guarantor, then you will not be able to ask for a loan at Fundi.

Do I qualify if my parents don't work?

You will not be able to ask for a Fundi Student Loan if your parents do not have any kind of income to pay back the loan. If you have a job and can account for a certain amount of income, you might be able to qualify for Fundi loan to study.

How to apply Fundi Loan?

Once you've checked that you fulfill all requirements to ask for a Fundi Loan, you are ready to apply! To do this you can simply fill in a simple application form online where you will be prompted to upload all documents. If you need further assistance, you can contact Fundi over the phone or e-mail.

So do I pay back the loan after the completion of my study or they debit monthly during my studying?

While you are studying Fundi Loans will only debit from your bank account the portion of the loan corresponding to interest rates. Then, after you finish your studies and you graduate, you will begin to pay the loan itself in the time period you have chosen and agreed upon with Fundi.

How do I qualify?

To qualify for the loans offered by Fundi and finance your studies you will need to comply with certain requirements. The most important ones are being a South African resident (you will have to prove this with your ID and proof of residence), and having a regular source of income (from you or your parents, for instance).

Can Fundi accept a pension parent to get a student loan for her son?

Fundi needs to have some kind of reassurance that you will be able to pay off your loan. This is why Fundi asks applicants to prove their income with payslips and bank statements. You could try applying with your pension slips and wait for Fundi to determine if they can accept your application.

How much and how long will be my repayment for a R30000 study loan?

Repayments at Fundi loans are tied to interest rates such as any other kind of loan. With this we mean that in order for you to know how much you will pay each month, you will need to know what interest rate can Fundi offer you. And this will be related to your income and credit record.

Hello... I wanted to ask if both my parents are not working &1 of them receives a social grant I don't qualify for your student loan??

In order to ask for a student loan at Fundi you need to prove that you will be able to fully repay the amount of money you borrow from this institution. For this reason, Fundi asks for payslips and bank statements so as to check your affordability. If you cannot provide these documents, you could read our articles about bursaries.

Can a student apply for Fundi Loans even though they are not working?

If you want to ask for a Fundi Loan but you are not working, you could have your parents as your guarantors. If one of your parents or your guardians has a permanent job, you can have them request the loan in your name. If you have nobody to act as your guarantor and you don't work, then, unfortunately, you will not be able to request this loan.

Does Fund loan a student studying at a Private college e.g Berea Technical college? Does Fundi pay for accommodation if you study part-time?

With Fundi loans you can have access to many types of loans. One of these loans are accommodation loans, so it might not be a problem for you to request it if you will be a part-time student. Fundi partners with many private institutions, and luckily Berea Technical College is one of them.

I'm a student and I need 15 000 rand for my studies. How much is your interest rate for me and when do I have to pay you back?

If you request a loan at Fundi you will be asked to provide information of your financial situation (or of your parents). Thus, Fundi will assess what interest rate they can offer you. If you are granted the loan, you will have to pay for the interest portion while you are studying and the rest when you graduate.

Good Day. Can I apply for Boston Media House study loan?

Hi, you can absolutely request a Fundi loan to study at Boston Media House. If you want to apply, you will have to provide Fundi with a completed application, the quote from Boston Media House, a copy of your ID (certified), payslips and bank statements from your parents or guardians.

Can I get a Fundi loan if my insurer has a surplus of R3500 after every deduction?

If by insurer you mean your guarantor, then yes, you might be able to ask for a Fundi loan. With Fundi, you can ask for five types of loans: a student loan, a loan for books or notebook, a loan for accommodation, and for an MBA. The loan you can ask will depend on your guarantors employer and income.

Estimation of 28500 for a course to repay in 2 years. How much would installments be?

When you apply for a student loant at Fundi, you will have to provide all financial information from your guarantors (your parents or tutors). With that information, Fundi will start a credit check to see what kind of interest rate can be offered. Only then will Fundi be able to establish the installments you would have to pay for that amount of money.

Does Fundi study loan only deduct the interest while you are studying?

Fundi offers unsecured school loans and has over 20 years of experience in the South African loan market. When you take out a student loan with Fundi, you will only pay for the interest portion while you are studying. Once you graduate, you will have to start repaying the loan.

If I am a namibian and been accepted to South African college or institution and need a loan can I be applied to funding to give me the study loan?

Unfortunately, for you to be able to qualify for Fundi Loans you need to be a South African Resident and prove it with a South African bar-coded ID. You will also need to provide Fundi a proof of residence along with all documents of your enrollment to this institution you are talking about.

To apply for Fundi student loan, do I have to enroll in a university? What if I want to study at a TVET?

Most students that apply for Fundi loans use them to attend well know Universities. However, with Fundi you can apply to both types of institutions (universities, tertiary schools or TVET), you only have to check with them if the specific institution you want to register in is accepted by Fundi.

Most banks give you the money to pay for your expenses. Fundi makes the payment directly to the university, for instance. How do I know my fees are being paid?

Knowing whether or not Fundi is paying for expenses, such as your school tuition, is very easy. You will know because Fundi has an application called FundiCard where you will be able to see where the money is going. If you check the application and no payment has been made, you should contact Fundi.

Does Fundi offer bursary opportunities?

Some families may be experiencing critical financial situations, and to them, student loans are not within their possibilities. Luckily, Fundi is partnered with hundreds of institutions in South Africa to help in the selection of candidates for bursaries. If you are looking for bursary opportunities, you should deffinitely check if you qualify for them.

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