Best Student Loans in South Africa

A student loan can be the bridge between a place at university and actually being able to take it up. The good news for South African students: the major banks and specialist lenders offer study loans that cover tuition, textbooks, accommodation and even a laptop — and most let you pay only the interest while you study, so full repayment starts once you're earning. This guide compares the options.

How student loans work in South Africa

A study loan is usually taken out by a working parent or guardian on the student's behalf, because the student doesn't yet have an income. The rate is personalised and linked to prime (10.25% in 2026). The standout feature to look for is interest-only repayments while studying: you (or your parent) pay just the interest during the study years, then settle the capital after graduation — keeping monthly costs low while you study.

How we chose

We compared lenders on rate, what they cover, the interest-only option and flexibility. Rates are personalised, so figures are indicative — apply to confirm. Ratings are Rateweb's editorial opinion.

The best student loans at a glance

• Best overall — FNB. Covers tuition, accommodation and a device, with interest-only payments while studying, all in the app.
• Best specialist — Fundi. An education-finance specialist covering a wide range of study costs.
• Big-bank options — Standard Bank, Nedbank and Absa all offer solid study loans.

Compare what each covers and the repayment options below.

Tips before you apply

• Apply early — registration deadlines come fast; have the loan approved before fees are due.
• Borrow only what you need — every rand is repaid with interest.
• Use the interest-only option to keep costs low while studying.
• Check NSFAS and bursaries first — funding you don't repay always beats a loan.

Frequently asked questions

Can a student get a loan without a parent?

Most bank study loans need a working parent or guardian as the borrower. Specialist lenders like Fundi offer some products with different requirements — compare the options.

What does a student loan cover?

Typically tuition, prescribed textbooks, accommodation and a study device (laptop/tablet). The exact list varies by lender.

When do I start repaying?

With an interest-only loan you pay just the interest while studying, then repay the capital after graduation — check each lender's terms.

Next steps

Compare the lenders below, then model the repayment with our loan calculator. This is general information, not financial advice — your rate is confirmed by the lender.