Without proper education, one’s chances of reaching their full potential are limited. To overcome this limitation, many people seek ways to make their dreams of obtaining a higher education a reality. Taking out a loan is one way to accomplish this. Read through to get more information on fundi loans.
What are Fundi Student Loans?
Eduloan has been renamed Fundi. They founded this company in 1996 with the goal of making the dreams of needy students who want to pursue higher education a reality by providing the money they require for their education as a loan.
They will however repay with a small interest to keep the company running. This organization funds students for undergraduate, postgraduate, and MBA studies.
The company also offers funding for professional short courses to help one advance in his or her chosen career.
How Does Fundi Student Loan Work?
Fundi pays for all expenses directly related to your education. Because the company is a private establishment, it prioritizes loan repayments in order to stay in business.
However, Fundi has contributed significantly to South African society; the company has already contributed significantly to the lives of approximately 800,000 people and their families.
To apply for a Fundi student loan, you must first complete an online application. You navigate to the company’s website, www.fundi.co.za, and apply for a loan.
This is a brief and straightforward application form that requires basic information such as your name, e-mail address, and cell phone number, as well as your signature.
What Does the Fundi Loan Cover?
Fundi does not cut corners; the company takes care of all of your educational requirements. With Fundi, you can be confident that everything monetary related to your education will be taken care of.
We’re talking about your tuition, housing, suggested books, reading material, devices like computers, uniforms, and anything else.
Fundi Student Loan Requirements
Fundi loans are unsecured loans. As a result, you are not required to put up any collateral. All they need is your assurance that you will repay the loan. That is why the company requires a permanent job for either the student or one of your parents.
With part-time students, the students are usually required to work, whereas, with full-time studies, the parents are usually required to work.
The employed signee for the loan should not be under credit review; this means that your credit history must be in good standing. Because this company only lends to South African citizens, you will be required to provide a copy (certified) of your South African ID and a letter from your employer confirming that you work for them.
How Can I Apply For Fundi Student Loan?
You may have tried and failed to locate Eduloan. This is because Eduloan has been renamed Fundi. Since October 2016, this change has been in effect.
To get a loan from Fundi (formerly Eduloan), simply visit their website at www.fundi.co.za and click on apply.
The website and form are simple to use. Simply follow the instructions provided online. Remember to prepare all the documents listed in the requirements section. If you have any problems registering, please contact fundi using the information below:
Contact number: 0860 55 55 44
Contact us via email at support@fundi.co.za.
How Does One Repay Back the Money of the Student Loan?
Each month, your sponsor or signee must repay the loan plus a tiny interest. While other lenders may allow you to postpone payments until after graduation, it does not have the luxury of waiting that long to get your money back.
This is because the company requires the money to be in circulation in order to make loans available to other students.As a result, your sponsor will repay the loan while you are studying.
