Two financial obligations of a study loan Skip to main content

Featured post

How to Change SASSA SRD Cellphone number 2024

By
SASSA is no longer allowing people to change their phone number on their website due to a number of reasons, including: •To prevent fraud and abuse. SASSA has seen an increase in fraudulent applications for the SRD grant, and changing the phone number can be a way for fraudsters to circumvent security measures. •To improve efficiency. SASSA is processing millions of SRD applications, and allowing people to change their phone number would add to the workload and make it more difficult to process applications quickly. •To ensure that beneficiaries receive important information. SASSA uses the registered phone number to communicate with beneficiaries about their applications, payments, and other important information. If the phone number is changed, beneficiaries may miss out on important information. If you need to change your phone number, you can do so by submitting an appeal on the SASSA website. You will need to provide your ID number, the old phone number, and the new ph
Post a Comment

Two financial obligations of a study loan

Image
By
Two financial obligations of a study loan


A study loan is a financial aid that is given to students to cover the cost of their education. While a study loan can help students achieve their educational goals, there are also financial obligations that come with it. Here are two financial obligations of a study loan:


1. Repayment of the loan: One of the primary financial obligations of a study loan is the repayment of the loan. Depending on the terms of the loan, the student may be required to start repaying the loan immediately after graduation or after a grace period. The repayment amount may include principal, interest, and any fees associated with the loan. Failure to repay the loan on time can result in penalties, additional interest charges, and damage to the borrower's credit score.


2. Interest charges: Another financial obligation of a study loan is the interest charges that accrue on the loan. Depending on the type of loan, the interest rate may be fixed or variable. Interest charges can significantly increase the overall cost of the loan, and it's important for borrowers to understand the interest rate and the total amount of interest that they will be required to pay over the life of the loan. It is also important to note that interest charges may continue to accrue even while the borrower is in school, and that interest may be capitalized, which means that the interest is added to the principal balance of the loan, increasing the amount of debt that must be repaid.

Labels:

Comments

Post a Comment

Popular posts from this blog

SASSA R370 SRD Application in 3 Simple Steps

By
Eligibility: Ensure that you meet the eligibility criteria for the SRD grant before applying – MUST be unemployed with no means of income. Accuracy of Information: Provide accurate and truthful information to avoid delays or disqualification of your grant application. Follow-Up: Remember to always keep track of your application status through the method you used to apply or via the SASSA SRD website. Now when you’re certain you meet the above criteria, applying for the SRD grant can be done through various methods. Here are the steps for each method: Online Via The SASSA SRD Website Visit the Official SASSA SRD Website: Open your web browser and go to the SASSA SRD website (srd.sassa.gov.za). Select Category: If you’re a new user, choose a category between applying as a South African citizen or Asylum Seekers and Special Permit Holders. Get Started: Next, enter your cellphone number to verify with a One-Time Pin (OTP). Complete the Application Form: Fill in the online application form
Post a Comment
Read more

How to Change SASSA SRD Cellphone number 2024

By
SASSA is no longer allowing people to change their phone number on their website due to a number of reasons, including: •To prevent fraud and abuse. SASSA has seen an increase in fraudulent applications for the SRD grant, and changing the phone number can be a way for fraudsters to circumvent security measures. •To improve efficiency. SASSA is processing millions of SRD applications, and allowing people to change their phone number would add to the workload and make it more difficult to process applications quickly. •To ensure that beneficiaries receive important information. SASSA uses the registered phone number to communicate with beneficiaries about their applications, payments, and other important information. If the phone number is changed, beneficiaries may miss out on important information. If you need to change your phone number, you can do so by submitting an appeal on the SASSA website. You will need to provide your ID number, the old phone number, and the new ph
Post a Comment
Read more

Distinguish between the admission point score and the national benchmark test

By
The admission point score (APS) and the national benchmark test are two different assessments used in the South African tertiary education system to evaluate students' academic performance and potential. The admission point score (APS) is a score calculated based on a student's performance in their final Grade 12 examinations. It is a cumulative score based on the student's performance in six subjects, each of which is assigned a specific weighting. The APS score is used by universities and other tertiary institutions in South Africa to determine which students meet the minimum entry requirements for specific courses or programs. On the other hand, the national benchmark test (NBT) is an assessment administered to students who have already been accepted into tertiary education programs. The NBT is designed to evaluate a student's academic readiness for tertiary education, focusing on critical academic skills such as reading, writing, and quantitative reasoning. The resu
Post a Comment
Read more