Eduloan has a responsible approach to educational loan to people’s education and therefore an affordability test is done for all applications. Permanent employees can apply for a study loan, as long as the instalments do not exceed more than 25% (based on a one year loan) of their monthly gross salary and must earn a minimum of R2 000 after the Eduloan deduction and before any other deductions.
What does Eduloan cover?
The study loan covers student related necessities including books, accessories, laptops and accommodation, as well as study tuition fees.
Eduloan provides education finance to corporate employees and gives them fixed repayment options over a 6 to 22 months period. A salary deduction can be arranged which will allow for better management of monthly study loan instalments and will ensure that they are paid timeously. This significantly reduces the administrative burden for the employer as Eduloan will manage the direct payment of studies fees over to the institution of choice.
Eduloan Student Loan Contact Details:
Call Centre: 0860 55 55 44
SMS ‘edu’ to 32150 and we’ll call you back