Student Loan Application for 2025-2026: An Ultimate Guide on How to Submit Student Loan Application Online for 2025
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A student loan is a type of money you borrow from the federal government or a private organization to pay for college expenses and repay later with a lower interest rate This is designed to help students pay for post-secondary education and the associated fees, such as tuition, books and supplies, and living expenses. It may differ from other loans because the interest rate may be substantially lower and the repayment schedule may be deferred while the student is still in school.
It also differs in many countries in terms of the strict laws regulating renegotiating and bankruptcy. This article will highlight the differences in the student loan system in several major countries.
Federal student loans
The University became a “Deferment Only” institution from September 2009 and therefore can no longer certify US federal student loans (e.g. the Direct Loan program).
Deferring loans – If you have already received a US Federal Student loan, the University can approve a deferment. If you are enrolled on at least a half-time basis, you can apply to defer repayment of those loans. Contact your lender for the appropriate forms, which can then be certified by the University.
Cohort Default Rate – The University is required by US legislation to publish its Cohort Default Rate (CDR). The CDR is a calculation made by the US Department of Education and is the percentage of students who attended an institution, received federal student loans at some point during their studies and later defaulted on the repayment of their federal loan within a certain period.
The University of South Australia’s CDR is currently 0.0%.
Private loans
As a US student, you may be eligible for a private loan. A current private lender for US students is GEMS and Sallie Mae.
If you are successful in obtaining a private loan, the University will generally receive the loan disbursement via EFT coinciding with the commencement date of your study periods. The University will contact you upon receipt of the funds..
If you have applied for a GEMS or Sallie Mae loan, or make any subsequent changes to your enrolment (e.g. leave of absence or withdrawal), please contact us as soon as possible.
Important information
Remember that any funds you receive are loans that must be repaid. It is important that you understand your rights and responsibilities as a borrower. Useful resources include:
- Your Federal Student Loans website for information about the difference between private loans and federal student loans.
Unisa’s Student Funding Directorate (DSF) administers donor funds, in the form of study loans and bursaries, according to donors’ criteria. The main aim is to assist financially needy and academically deserving students. Unisa is proud that they have empowered a large number of students from different colleges and diverse geographical groups.
Student Loans in South Africa
National Student Financial Aid Scheme (NSFAS): Student Loans
The National Student Financial Aid Scheme (NSFAS) is a juristic entity of the South African government reporting to the Minister of Higher Education, Science and Innovation. NSFAS was established in 1991 to provide financial aid, in the form of a bursary or loan to students from low-income families who meet the criteria for admission to a post-school education and training programme at a public TVET college or university.
NSFAS Student Loan Guidelines
If you apply for a loan, the procedure is similar to that for a bursary application. You will be required to accept terms and conditions that are aligned with a bursary application. Please accept these terms and conditions with the understanding that similar agreements will be shared with you if you qualify for a loan agreement.
Applicants who have been rejected for a 2024 bursary based on a household income exceeding R350,000, will pre-qualify for a loan if their family income is less than R600,000. We will communicate with such applicants in due course.
Students who already applied for the NSFAS bursary scheme need not submit a new application for the student loan scheme.
Requirements for NSFAS Student Loan
Students who apply for the new scheme must meet the following interim criteria:
- Annual household income between R350,000 and R600,000
- Accepted to study at either TVET College or public university for either undergraduate or postgraduate studies.
- Can apply in years 1, 2, 3 or 4.
- Must sign a loan agreement if they qualify for a loan.
Please Note: A completed Consent Form is a mandatory requirement for a loan application, to validate information from third parties.
CLICK HERE TO APPLY FOR NSFAS STUDENT LOAN
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