Student loans in South Africa: NSFAS, education lenders and bank study loans

For most students NSFAS is a bursary, not a loan you repay. It is for households with a combined income of up to R350,000 a year (up to R600,000 for students with disabilities), and students whose household receives a SASSA grant meet the income test automatically. A loan exists for the band above that: households earning R350,001 to R600,000 a year (Cabinet statement reported by SAnews, 20 Sep 2024).

NSFAS is registered with the National Credit Regulator as NCRCP2655 (final registration 5 Oct 2007). The rules, the loan terms and the application window change from year to year, so read the current criteria on the NSFAS website (nsfas.org.za) before you apply. NSFAS is a state scheme, so there is nothing to compare on our side.

A business that lends to students under credit agreements generally has to be registered as a credit provider with the NCR. We searched the NCR register of credit providers by name on 29 Oct 2026. These education lenders are in it, ordered by registration date:

Both private lenders say they assess every application: StudyAll describes credit vetting and an affordability assessment, and Manati says your loan term depends on your institution and course and suggests applying with joint household income. Some universities, for example the University of Pretoria and Stellenbosch University, are also in the register as credit providers; ask your institution's fee office about instalment arrangements.

Fundi

Fundi (Fundi Capital (Pty) Ltd) offers study loans, and its own student-loan document gives its NCR number as NCRCP158. In the NCR register that number is not among the registered credit providers. It is on the list of lapsed registrations, with a cancellation date of 3 Mar 2026 (NCR register, searched 29 Oct 2026). The NCR states that a credit provider whose registration has lapsed is no longer authorised to provide credit services. We did not find a newer registration for Fundi, but it may have applied again. Ask Fundi for its current NCR registration number and check it on the NCR site before you share your ID or your bank details. A lender that cannot show a current registration should not get them.

Banks offer study loans to students and to parents who borrow for them, and the terms differ by bank and by product. We do not hold bank tariffs, so we do not quote rates. Ask for these things in writing:

• Surety. Does a parent or guardian have to sign as surety, and what happens to them if you stop paying?
• During your studies. Do you pay interest, a part of the instalment, or nothing until you graduate?
• Who gets the money. Is the loan paid to the institution, or to you?
• If your plans change. What happens if you fail a module, take a break or stop studying?
• Every cost. Interest, initiation fee, monthly service fee and insurance. Under the National Credit Act you are entitled to a pre-agreement statement and quotation before you sign (section 92).

Compare two or three written quotes by the total you will repay, not by the monthly instalment alone.

A registered credit provider has to check that you can repay before it lends (National Credit Act, section 81). A student with no income and no co-signer gives a lender little to base that check on, which is why a surety is so common. That is a reason to start with the options that do not depend on one:

• NSFAS, which looks at your household income and eligibility rules, not at a surety.
• A payment arrangement with your own institution.
• A lender that assesses the household's income, such as those in the table above; approval is never guaranteed and is the lender's decision.

If a website promises a student loan with no checks and no surety, treat it as a warning sign. Registered lenders do not skip the affordability check.

The lenders in our comparison make short, small loans, and they ask for an income. Creditbar lends R500 to R5,000 for 7 to 61 days and requires a South African citizen or permanent resident with a regular source of income. Arcadia Finance, a loan-matching service, lists formal employment for at least 3 months and 3 months of bank statements (conditions checked 15 and 25 Oct 2026). These loans bridge a gap until payday (see payday loans for the costs); they do not spread a year of fees over several years.

If you do have an income and need a small, short loan, work out the repayment first in the loan calculator.

• Borrow only if you have an income that covers the repayment on the due date.
• Use a cash loan for a short gap, such as books or a deposit, and not for tuition.
• Compare the total you will repay and the date, not just the amount you receive.

If that fits your situation, the offers below show the amount, term and cost of each lender in our loan comparison.