What does Capitec Student Loan Cover?

What does the Capitec student loan cover? The bank is one of those that offer loans to people looking to enhance their education by studying at universities and colleges around the country. Most people apply for NSFAS bursaries. However, you are here because you probably do not qualify for one and you wish to get a student loan from Capitec. But what does this loan cover?

Expenses covered by the Capitec student loan

The Capitec student loan covers the following;

• Tuition fees
• Accommodation fees
• Textbooks
• Other expenses

Who gets this money?

That’s the answer to the question what does the Capitec student loan cover? Students loans from Capitec can be used to cover expenses at the following institutions

• University
• TVET Colleges
• Primary school
• High school
• Online courses

Capitec pays directly to the institution at which you are studying?

So, how is this money paid? Do you get it as cash? The answer is, student loans are not handed over as cash. They are paid directly into the account of your institution.

What it means is that you need to submit proper invoices for you to be able to get a loan. If you wish to get money for tuition and accommodation, then you will need to submit the appropriate invoices.

How much can you get?

That’s the answer to the question what does the Capitec student loan cover. You may also be wondering how much you are going to get after applying for a loan.

According to Capitec, you can get up to R500 000 as a student loan. That’s a long and it should be enough to cover your costs as you study for a degree or a diploma.

How to get a Capitec student loan?

Repayments

Once you have received your Capitec student loan, how much time will you have to repay the money?

The bank states that those who get loans will have up to 18 months in which to make their repayments. That’s a year and a half.

Summary

In this question we focused on the question, “what does the Capitec student loan cover?” It was noted that student loans from the bank are paid directly to your University or college. You don’t get the money as cash. As such, you need to provide the invoices that you need to be paid for as part of your application. You can get up to R500 000 as your loan.

What is my Capitec account number?