HOW TO FINANCE YOUR STUDIES

WHAT do you do if your parents can’t afford to pay for your studies and you don’t have a bursary? A lack of funds is definitely an obstacle but it’s not insurmountable.

Every year thousands of tertiary students rely on loans or financial aid so they can get a diploma or degree.

Here’s what you should know about financing your studies with a loan or financial aid.

HOW STUDENT LOANS DIFFER FROM OTHER LOANS

Student or study loans are unlike personal and other types of loans. They have their own characteristics as they’retailored for students. For example:

〉〉 With most student loans you pay only interest and fees while you’re studying. So if you’re doing a three-year