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Blue bank offers students loans

Blue bank offers students loans

As the new academic year resumes and students prepare to embark on their journey into tertiary education, many will have to strive to raise thousands of dollars for tuition, books and accommodation.

Garth Petersen, Head of Prestige and Student Banking, at Standard Bank explained that matriculants fresh out of high school do not have N$50 000 for registration and tuition for the first semester of University, let alone for the whole year or the remaining 3 years. “Most families will try to set aside some savings but are spread too thing with all their other responsibilities,” he added

He said to help students the bank offers student loans which makes provisions for students who are both full time and part time, however there are variations in the conditions of repayment. “Students need only apply at any Standard Bank branch and find out if they are eligible because we want to help you make your mark on the world and become all that you can be by helping you pay for your studies,” he urged.

He explained that full time students and minors need someone reliable to sign a surety for them additionally students under 21 years old who are not emancipated will need a parent or guardian to cosign for them.

“If you are a full time student you will only need to start repaying the loan once you graduate, however during the course of your studies you or your surety will need to pay the interest on a monthly basis,” he stated.

But he further informed that if you are apart time student you will need to start repaying your loan while you are studying and the loans are granted for a specific year of study and therefore students will need to reapply every year.


About The Author

Mandisa Rasmeni

Mandisa Rasmeni has worked as reporter at the Economist for the past five years, first on the entertainment beat but now focussing more on community, social and health reporting. She is a born writer and she believes education is the greatest equalizer. She received her degree in Journalism at the Namibia University of Science and Technology (NUST) in June 2021. . She is the epitome of perseverance, having started as the newspaper's receptionist in 2013.