HIGHER EDUCATION QUALIFICATIONS
HIGHER CERTIFICATE IN BANKING
HIGHER CERTIFICATE IN BANKING (SAQA ID – 111129)
MINIMUM ADMISSION REQUIREMENTS
A recognized National Senior Certificate or Senior Certificate with the following minimum criteria:
→ 1st Language One must be
→ 2nd Language ] English with
a minimum
aggregate of 33%
→ Mathematics or Mathematical Literacy with a minimum aggregate of 40% A Senior Certificate (Amended) with the following minimum criteria:
→ 1st Language One must be
→ 2nd Language ] English with
a minimum
aggregate of 30%
→ Mathematics or Mathematical Literacy with a minimum aggregate of 40%
For candidates seeking entry without the prerequisite qualifications, or in cases where there is a lack of academic qualifications but an abundance of relevant knowledge and skills (acquired through work experience related to the field of study) Cornerstone Performance Solutions does implement a process of Recognition of Prior Learning (RPL), where by applicants must demonstrate suitability for admission, which will be at the Registrar’ s discretion on a case-by-case basis, whereby knowledge and experiences will be formally assessed to determine if a prospective candidate qualifies for the minimum admission requirements of the programme. This allows for the development of an equitable education system that facilitates access to, mobility and progression.
Cornerstone Performance Solutions will also allow candidates access through mature age exemption, which gives applicants provisional acceptance, granted that they pass the first module of the programme, after which the provisional status will be converted to full acceptance. In the event that a prospective student is unsuccessful in achieving the above, alternative options will be discussed with the candidate.
FURTHER EDUCATION AND TRAINING CERTIFICATE: BANKING CURRICULUM
COMPULSORY (CORE) MODULES ELECTIVE (OPTIONAL) MODULES
Financial Services: Understanding your Business Governance, Risk and Compliance
Financial Principles and Banking Calculations, Banking Service Excellence, Personal Effectiveness
Asset-Based Finance, Asset-Based Finance in Retail Markets
Foreign Exchange Communication Fundamentals Debt Collections and Recoveries Numeracy Fundamentals
Business Communication
This qualification provides a foundation to the world of banking and financial services, providing practical guidance on how to apply your training in the workplace. It is designed through the process of combining banking and financial services theory with real-world solutions, and is aimed at showing students how the industry works, as well as providing them with insights into how they can assimilate their newly acquired skills to solve problems in this rapidly-growing industry.
Student Loans in South Africa: How to Apply and What to Expect
For many young South Africans, accessing higher education is a dream that often comes with a financial challenge. Fortunately, several student loan optionsstrong> are available in South Africa to help fund university, college, or TVET studies. Whether you’re looking for a government loan like NSFAS or a private student loan from a bank, understanding the process is essential for success.
What Are Student Loans?
Student loans are a form of financial aid provided to eligible students to help cover tuition fees, books, accommodation, and other study-related expenses. In South Africa, these loans can come from government institutions like NSFAS or private banks such as Nedbank, Standard Bank, FNB, and Absa. Most loans offer repayment flexibility and low-interest options until you graduate.
Types of Student Loans in South Africa
- NSFAS (National Student Financial Aid Scheme): A government-funded loan/grant program for students from low-income households. Covers tuition, housing, transport, and meals.
- Bank Student Loans: Offered by most major banks. These are credit-based and require a guardian or parent as a co-signer.
- Private Loan Providers: Companies like Fundi offer educational loans covering various costs such as school fees, gadgets, and textbooks.
Requirements to Qualify for a Student Loan
Each provider has its own criteria, but most South African student loans require the following:
- Proof of South African citizenship or permanent residency
- Proof of registration or acceptance at a recognised tertiary institution
- Parent or guardian with a stable income to co-sign (for private loans)
- Completed application form with supporting documents (ID, proof of income, academic records)
How to Apply for a Student Loan
To apply for a student loan in South Africa, follow these steps:
- Identify your loan provider: Choose between NSFAS, a bank, or a private lender.
- Gather necessary documents: ID copies, academic transcripts, acceptance letters, and income statements.
- Complete the application form online or at a branch.
- Await approval: Some banks offer instant decisions, while NSFAS can take a few weeks.
- Receive disbursement: Funds are typically paid directly to the institution or your account, depending on the lender.
Loan Amounts and Repayment
The loan amount you can receive depends on your chosen lender and financial need:
- NSFAS: Covers full tuition, residence, books, and a personal allowance. The loan becomes a bursary if you pass all your courses.
- Banks: Can provide up to R120,000 or more annually, depending on tuition costs and credit history.
Repayment usually starts after graduation or once you start earning an income. Bank loans may require interest-only payments during your studies. NSFAS repayment only begins when you earn above a specific income threshold.
FAQs on Student Loans in South Africa
1. Can I apply for a student loan without a parent or guardian?
For government loans like NSFAS, yes. But most banks require a financially responsible co-signer, especially for students without an income.
2. Is NSFAS a loan or a bursary?
NSFAS starts as a loan, but it converts to a bursary if you meet academic performance requirements. This means you may not have to pay it back.
3. What is the interest rate on student loans?
Private banks offer competitive rates between 5% and 12%, depending on the applicant's credit profile. NSFAS charges a much lower interest rate, usually linked to inflation.
4. What happens if I fail my courses?
If you’re funded by NSFAS and fail, your loan won’t convert into a bursary, and you’ll need to repay the full amount. Banks may continue charging interest, and your co-signer may be held liable.
5. Can I use a student loan to pay for accommodation and laptops?
Yes. Both NSFAS and many bank student loans cover costs beyond tuition, including housing, meals, textbooks, and electronic devices like laptops or tablets.
Final Thoughts
Student loans in South Africa offer a much-needed financial lifeline to thousands of students every year. Whether you're applying through **NSFAS** or a private bank, ensure you understand the **terms, interest rates, and repayment conditions** before signing any agreement. Make informed decisions today to secure your academic and financial future tomorrow.