University of Cape Town
The University of Cape Town continues to pioneer valuable educational initiatives in South Africa and the whole of Africa.
About – University of Cape Town
As the oldest and an all-time best-ranked university in the continent, we are always making relevant programs to ensure that our students realise the best during their time at the institution.
Through our experiences in giving out the best education, we have realised quite a number of our students who fail to meet the financial requirements of their relevant courses, and so we have designed student loans that are meant to cover the financial gap that these learners come across.
UNIVERSITY OF CAPE TOWN STUDENT LOANS
Sometimes the funding does not balance due to some unexpected events that come up through the year, and it becomes a huge loss when the shortage happens with some of the best students in the country.
The University of Cape Town allows loans access for students who fail to meet the minimum financial requirements and those who are turned off from the NSFAS applications. Our investments cover students who come from low-income families or those who are financially disadvantaged, taking only students who come from families with an annual income that is below R600 000.
The loans are mainly meant to cover the gap on which the student would be struggling with on their educational funding.
WHAT DOES THE UNIVERSITY OF CAPE TOWN STUDENT LOAN PACKAGE CONTAINS?
The University of Cape Town student loans only covers a fee balance for the loan applicants. The student loans are issued to facilitate full attendance of classes of people who are denied by the NSFAS or those who come from poor backgrounds.
Our student loans come in two forms, a loan for students who come from other provinces or countries and another for students who are locals.
For local students, the University of Cape Town student loans come with a maximum of R13 000 per year whilst the other class of applicants can get a maximum of R46 700 per year.
WHAT ARE THE BENEFITS OF THE UNIVERSITY OF CAPE TOWN STUDENT LOANS?
The university gives student loan applicants one of the exciting packages, and the applicant will have access to a non-repayable bursary provided that the person well in their studies.
The Gap Fund bursary will take care of 20% to 40% of the students who get financed by the university, giving them an enhanced ability to complete their education successfully. Also, to that, all the students who obtain the Gap fund bursary will have their siblings automatically funded by a non-repayable scholarship for 50% of their university fees.
That’s, the University of Cape Town does best to cater for its students, enabling them to realise the best of their potentials.
HOW LONG DOES IT TAKE TO OBTAIN THE UNIVERSITY OF CAPE TOWN STUDENT LOANS?
Usually the loan will take a month from application to disbursement. However, the institution always makes consistent efforts to speed up the process. The length of the time it takes to process student loans with the university differs, it depends on a lot of factors which could be beyond the control of the applicant and the provider of the loans.
Firstly, the program needs to wait for the results of the NSFAS student loan applicants as most of the applicants here will need to be those who failed to meet the NSFAS requirements. After that, the university will need to acquire some input from NSFAS before making a loan available of the student.
The University of Cape Town also does its internal assessment on the applications before making the loan available to the students.
The university requires applicants to be those who come from low income or underprivileged families who have an annual income that is below R600 000.
The applicants should be South African citizens or permanent residents of South Africa who are taking a first undergraduate degree. In addition to that, the applicants should have a good credit record. University of Cape Town student loans will not finance anyone who is under debt review, sequestration or debt administration.
The applicants will need to submit the following documents during the application process
- South African national identity document or a valid passport with a permit
- Three months’ stamped bank statement
- Proof of residential address that is not older than three months
- University of Cape Town student registration document
- Statement of costs or stamped invoice
HOW TO APPLY FOR UNIVERSITY OF CAPE TOWN STUDENT LOANS?
The University of Cape Town student loans are part of NSFAS student centred application model and so the student loans are applied through the NSFAS website.
The applicants will need to submit all their relevant documents before submitting the applications, ensuring that their better chances of being accepted. After that, the applicant will need to wait for the results which will be sent to their email addresses.