Each and every-day, we put initiatives and programs that will allow South Africans to discover their potentials, making sure that their lives engage in a continuous improvement.
About – Discovery
Our goals are much broader than just providing insurance and medical aid schemes. We go further to ensure that the people who operate your hospitals and clinics get the best of education.
All people have the right to health, and in fact, health is one of the primary needs that humans cannot live without. With this increasing doctor to patient ratio in our country, there is a need for more practitioners.
Discovery group, in cooperation with the University of Pretoria and Standard bank, brings access of student loans to medical students at the University of Pretoria.
WHAT DOES DISCOVERY STUDENT LOANS OFFER CONTAINS?
The company offers student loans to medical students who are enrolled or accepted by the University of Pretoria. Discovery student loans cover applicants on their annual tuition, food, accommodation, books and other related learning materials that may be needed by the institution.
The quick, easy loans are granted to students who are seen to have potential in mastering their medical studies. They have enhanced the ability to excel and complete their studies.
Discovery student loans are the best educational package for the medical students in South Africa as they come with very low-interest charges.
HOW DOES DISCOVERY STUDENT LOANS WORK?
The prospective student loan applicants are solely those who are studying medical courses with the University of Pretoria. Discovery student loans are only valid for a year and can be re-applied when the applicant has managed to repay the loan.
The applications are only opened prior to the beginning of a new academic year for the University of Pretoria educational calendar, this is normally from November to the next January.
The applicants of Discovery student loans should be students who were born post-independence, that is from 1994 moving onwards.
HOW ARE THE DISCOVERY STUDENT LOANS REPAID?
Discovery student loans repayments were structured in a way that tries to shield the applicants from going into defaults, at the same time making a staged fund for every year.
All universities do change their financial requirements, and this is why our loans will only be made for the next year. The following provision will cater for fees and costs adjustments.
Discovery student loans are repaid with monthly instalments that are deducted from the account of the client through the direct debit system. The repayment takes a maximum of 12-months, and these will be the months when the student will be at school.
WHY DISCOVERY STUDENT LOANS?
To the niche that we target, our loans are straightforward and faster to acquire. Anywhere else, students will know how hard it is to source educational funding and Discovery student loans have answered that.
We know how hard it is to raise funds in South Africa. Also, with the falling economy and frozen incomes, the majority of citizens always face hardships to raise salaries.
This is one of the reasons why we made student loans very cheap, and our student loans come with no initiation costs. In addition to that, we charge very low-interest rates as compared to banks and personal loan providers.
HOW LONG DOES IT TAKE TO ACQUIRE DISCOVERY STUDENT LOANS?
Discovery student loans are not issued to individuals separately, applicants are given their time to make submissions, and the assessment will be done for the whole batch of applications.
Every year applications will be accepted from November to January, the assessment will follow before the beginning of the academic year.
Once the assessment process has started, successful applicants will be able to get their loans with a week.
The applicants should be South African citizens who are enrolled for medical courses at the University of Pretoria.
Also, the applicants should have bank accounts in their names where they have good credit scores. There is a need to have a guarantor who is a South African permanent resident. The guarantor should have a regular income that is received through the banking system.
The following documents will be required
- An application form that is complete and accurate in all sections
- A copy of the South African national identity document
- A proof of residential address not older than three months
- A three months’ stamped bank statement
- A proof of registration as a medical student at the University of Pretoria
HOW TO APPLY FOR DISCOVER STUDENT LOANS?
Applications are submitted from mid-November to Mid-January every year before the beginning of the first semester.
The application forms are downloaded from the Discovery website; the completed forms are then submitted together with required documents on the contacts given on the ways.
Applicants will be invited for a meeting when their student loans are approved, and from there funding will be made available.