Student Loan Calculator for South Africa
Calculate monthly repayments for student loans from NSFAS, banks, and private education financing institutions. Estimate your student debt payments before or after graduation.
What are your loan details?
What will your repayment be?
Monthly Repayment
R 3 298,89
per month
Total Interest
R 47 933,47
Total Cost
R 197 933,47
Loan Details
Loan Payment Schedule Chart
How much does this loan really cost you?
Estimated maximums under the National Credit Act — your actual lender's fees may be lower.
Advanced Analysis Tools
This is an estimate only, not financial or tax advice, and we are not a financial services provider (FSP). Your actual figures depend on your lender or provider, and your personal circumstances. Results do not constitute a credit quote or an offer of credit — please consult a qualified financial advisor or contact your bank directly before making financial decisions.
How do these repayment numbers break down?
Total interest paid by term
What should you know about a student loan?
Student funding in South Africa works very differently depending on the funder. The NSFAS Bursary (household income up to R350,000) does not need to be repaid. The NSFAS Missing-Middle Loan (household income R350,001–R600,000) is a real loan: interest-free while you study (interest starts building up 12 months after you exit), with repayment of the loan plus interest starting from your first month of employment. Bank student loans usually run interest-only at first, with full repayment starting after studies. Use the calculator to plan your monthly budget, and see the funder comparison below for how each option works.
What can this calculator work out?
- NSFAS loan repayment calculations
- Bank student loan monthly payments
- Private education financing repayments
- Student loan interest rate comparison
- Monthly payment estimator for education loans
What's next?
Dig deeper into this result with our free financial tools
Related Loan Calculators
Explore other loan calculators to compare different financing options
How repayment works depends entirely on your funder — compare NSFAS, the big four banks, and Fundi below, then use the calculator above to work out your own monthly repayment.
Who funds studies in South Africa and how does repayment work?
NSFAS Bursary
Not repayable- When repayment starts:
- No repayment under normal circumstances. One exception NSFAS has historically reserved: if you leave South Africa before working here for roughly as long as you were funded, NSFAS may ask for the money back.
- Interest rate:
- Not published — ask NSFAS Bursary directly for a personalised quote
- Surety/guarantor:
- Not required
Defined by NSFAS itself as aid that "does not need to be repaid, but which may carry other contractual obligations." Household income cap is R600,000/year (rather than R350,000) for applicants with disabilities.
Verified 2026-07-18 — "Bursary: A form of financial support awarded to a student that does not need to be repaid..." — NSFAS Eligibility Criteria and Conditions for Financial Aid, 2026 Academic Year, Glossary p.5
NSFAS Missing-Middle Loan
Repayable- When repayment starts:
- You pay nothing while you study. Once you leave your studies (whether you graduate or not), interest starts building up after 12 months — whether or not you have a job yet. As soon as you start working, you repay the amount you borrowed plus any interest that has built up, over up to 5 years (60 months).
- Interest rate:
- Prime − 1% (currently 9.5%–9.5%)
- Surety/guarantor:
- Required
Rate set each 1 April at prime minus 1 percentage point for that funding year. By law, the interest owed can never grow larger than the outstanding loan amount. Students who average 70%+ and finish on time qualify for a 50% discount — it only applies once half the loan has been repaid, and the loan does not become a bursary.
Verified 2026-07-18 — "The interest rate will be set at the prime lending rate in effect on April 1st each year, minus 100 basis points." — NSFAS Student Loan Scheme guidelines, 2024 & 2025 Academic Year, §12.5.1
Standard Bank
Repayable- When repayment starts:
- Standard Bank shows separate "while studying" and "after studying" repayment estimates — a smaller repayment is shown as due during study, but its exact composition is not published.
- Interest rate:
- An example quote of 18% has been shown online — not a published rate card, your personalised rate may differ
- Surety/guarantor:
- Sometimes required (varies by application)
No-surety applications were closed at last check — treat surety as effectively required until re-verified. R69/month service fee; R567.07–R1,207.50 initiation fee (VAT-incl).
Verified 2026-07-18 — Standard Bank student loan calculator and product page
Nedbank
Repayable- When repayment starts:
- Full-time students: the person who signed surety pays the interest while you study, and you start repaying the loan itself once you finish studying and have an income. Part-time students: you repay the loan and interest from the start.
- Interest rate:
- Prime + 1% to Prime + 2% (currently 11.5%–12.5%)
- Surety/guarantor:
- Required
Full-time rate varies within the published band by academic performance. Requires a recognised post-matric qualification (NQF level 5 or higher, accredited by SAQA — South Africa's qualifications authority) and a Nedbank account.
Verified 2026-07-18 — Nedbank student loan FAQ
Absa
Repayable- When repayment starts:
- For the first 12 months you pay interest only; from month 13 you repay the loan plus interest. Absa does not say publicly whether the 12 months count from when you start studying or from when the money is paid out.
- Interest rate:
- Personalised quote — no published rate card
- Surety/guarantor:
- Not published — ask the funder directly
Prime rate for Absa transactional-account holders; personalised rate otherwise. Credit life insurance mandatory. Minimum loan R15,000; applicant must earn over R3,000/month.
Verified 2026-07-18 — Absa study loan product page
FNB
Repayable- When repayment starts:
- Interest-only for the first 12 months; capital + interest thereafter. Timing anchor (study period vs disbursement) not confirmed.
- Interest rate:
- Not published — ask FNB directly for a personalised quote
- Surety/guarantor:
- Not published — ask the funder directly
Max loan R450,000. Credit life insurance compulsory. Minimum income R3,000/month.
Verified 2026-07-18 — FNB student loans page
Fundi (formerly EduLoan)
Repayable- When repayment starts:
- Repayment dates are agreed individually when you sign — there is no standard during-studies or after-studies rule. Note: the person legally responsible for the loan is usually the parent or guardian who applies, not the student.
- Interest rate:
- Not published — ask Fundi (formerly EduLoan) directly for a personalised quote
- Surety/guarantor:
- No surety — a parent/guardian is the borrower instead
NCR-registered credit provider (NCRCP158). Rate is a "preferential rate based on the term of the agreement," capped at the NCA maximum, but no generic % is published — quotes are personalised. Interest calculated daily, 365-day year, monthly in arrears.
Verified 2026-07-18 — Fundi Loan Application Form/Agreement, Part B Terms and Conditions §3.3–3.4