Funding your student accommodation

One of the major problems faced by students is the lack of funding for student accommodation. After all, if you are expecting to get your degree it is always recommended to stay closer to school.

With the rising demand in student accommodation, you would think there would be funding going around to help you secure not only your studies but also accommodation while you are studying. There are many ways you can acquire student accommodation.

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Here is a list of some funders for student accommodation:

Nedbank

The green bank has responded to the shortage to accommodation funding. As the need for student accommodation in South Africa increases, Nedbank has come forward with the opportunity to provide students funding for quality accommodation at selected universities.

This gives students the opportunity to enjoy studying and top quality accommodation with security benefits, communal facilities all in a student environment.

NSFAS (National Student Financial Aid Scheme)

Many of the questions asked by students is “does NSFAS pay for student accommodation?” Yes! But this depends on the EFC (Expected Family Contribution). This means that students will be expected to make a contribution to their studies.

However, if you are eligible for an allowance, tuition and accommodation, you can fund your student accommodation with NSFAS. This can either be on campus or outside the university.

Many of the private accommodations outside the universities such as South Point and CampusKey, have arrangements with NSFAS. So although NSFAS might pay for the 10 months, you might be required to pay the deposit as well as buy your own grocery and kitchenware as many of them are self-catering accommodation.

Eduloan

Eduloan is a student financial aid scheme. It is a bank loan for students, especially those with part-time jobs. So if you have a part-time job and want to further your studies and pay your accommodation, this is the financial institution you should consider.

They are pro-students, meaning you have a lot of accommodations that you choose from. It can be a student residence on campus or college, a student commune or an independent accommodation outlet close to your university or college.

All you have to do is provide them with the information from the accommodation provider and they will let you know if you qualify.

As a student, the least of your worries should be accommodation. The government has also realised the shortage of student accommodation and is doing something about it.

Research has shown that the student accommodation market is only growing and has become another reason for the growth in the economy of the country. It has attracted interest from investors, developers and even private accommodation operators nationwide.

Being a university student has become very possible for many South Africans, however, the climbing number of students in the country is also increasing the need for accommodations, so instead of travelling, you can live closer to school and focus more on passing your studies.

Are you looking for student accommodation? For flats to rent in Limpopo and our nine provinces, visit the Junk Mail website.