Paying your study loan is one of the last thing most students and graduates have on their minds. What a shlurp right? With interest growing on your balance, any wise student will know how important paying off that loan bit-by-bit actually is. NSFAS - the National Student Financial Aid Scheme sheds some light on how paying off your loan helps the younger generation and somebody who was in your shoes and wanted a study.
Your Responsibility
When you receive a NSFAS study loan, your first responsibility is to repay the confidence shown in you by studying hard, graduating and going on to enter the workplace. Unless you're a selfish individual, your responsibility does not stop there.
Others have dreams too
You now need to repay your study loan.
All of your repayments will be recycled back into the NSFAS system. Your repayments will be awarded to other academically capable but financially needy students who, like you, also had a dream of achieving something in life.
Bigger picture
NSFAS has made it easy for students to repay their study loans by only asking for payment when you get a job and only requesting payment if your salary is R30 000 or more per annum. And we only ask for 3-8% of your salary. Remember, whatever your student loan is, when you graduate and find a job, it will be nothing compared to your earning power over your working life. Keep the bigger picture in mind.
Study hard, reduce your loan
If you study hard, you can reduce your loan by having parts of it converted to a bursary. This is a big incentive to work hard while studying. But if you drop out, you are still required to repay your loan - what a waste of time, money and potential!
Make a commitment
As the future of this country, you should be concerned about unpaid funds that will impact negatively on the next generation of prospective students. More young people will be able to enter the education system in the future the more the outstanding loans are settled. So, think about it. Don't waste the opportunity.
Be responsible
Paying off a loan can seem like a difficult task to do, but if you start as of when you receive your first pay cheque, the loan can be payed off much sooner with much less interest and more savings for you.
Alot of students are looking for a way to earn an income while studying, or to do something on weekends to give their pockets that extra boost. Have a look at The Kipi Business Opportunity which can be a perfect fit for students wanting to make extra money. The Kipi Community promises to be a community that will help more South African Kipi Community Members reach their dreams of financial success.
Just make sure paying off your loan is something you do before anything else - plus it will be one less headache when applying for a car loan or even a home loan.
Your Responsibility
When you receive a NSFAS study loan, your first responsibility is to repay the confidence shown in you by studying hard, graduating and going on to enter the workplace. Unless you're a selfish individual, your responsibility does not stop there.
Others have dreams too
You now need to repay your study loan.
All of your repayments will be recycled back into the NSFAS system. Your repayments will be awarded to other academically capable but financially needy students who, like you, also had a dream of achieving something in life.
Bigger picture
NSFAS has made it easy for students to repay their study loans by only asking for payment when you get a job and only requesting payment if your salary is R30 000 or more per annum. And we only ask for 3-8% of your salary. Remember, whatever your student loan is, when you graduate and find a job, it will be nothing compared to your earning power over your working life. Keep the bigger picture in mind.
Study hard, reduce your loan
If you study hard, you can reduce your loan by having parts of it converted to a bursary. This is a big incentive to work hard while studying. But if you drop out, you are still required to repay your loan - what a waste of time, money and potential!
Make a commitment
As the future of this country, you should be concerned about unpaid funds that will impact negatively on the next generation of prospective students. More young people will be able to enter the education system in the future the more the outstanding loans are settled. So, think about it. Don't waste the opportunity.
Be responsible
Paying off a loan can seem like a difficult task to do, but if you start as of when you receive your first pay cheque, the loan can be payed off much sooner with much less interest and more savings for you.
Alot of students are looking for a way to earn an income while studying, or to do something on weekends to give their pockets that extra boost. Have a look at The Kipi Business Opportunity which can be a perfect fit for students wanting to make extra money. The Kipi Community promises to be a community that will help more South African Kipi Community Members reach their dreams of financial success.
Just make sure paying off your loan is something you do before anything else - plus it will be one less headache when applying for a car loan or even a home loan.
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