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Student loans bring education to more people

Anneke Hansen, First National Bank’s manager of student loans.

“Applications for student loans have increased again as many registrations for courses take place at the beginning of the year” said FNB Namibia’s manager of student loans, Anneke Hansen. “We are, however, also busy throughout the year as there are different registrations at different universities during the year,” she said. “Students studying at any tertiary institution and any academic course types and durations can qualify for the Life Start Student Loan”, Hansen said pointing out that FNB receives many loan requests from Namibians wanting to become teachers.

“There is an agreement with the Business School for Excellende for teachers to further their studies and we are proud to be able to assist with these requests as this means we are contributing to increase the pool of teachers.” Hansen said FNB also offers loans for pilot instruction as these are very expensive and the demand for these has increased yearly. “We furthermore assist students with Masters, and PHD studies with favourable interest rates. Electronic learning aids can be bought from the proceeds of the student loan, provided that quotations are submitted with the loan application. We really try to make it as easy as possible for our students as we believe that education is one of the most important aspects needed in our country and where we can, we help.”  FNB Namibia also allows for parents, guardians, family members or friends to apply on behalf of a student as most students do not earn a salary and therefore need someone to pay the monthly interest. “The loan would not be in the student’s name and applicants have the option to either pay interest for the duration of studies (after graduation, student can take over payments) or they can start immediately with repayment.”

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