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This loan serves to finance the cost of your studies at a recognised tertiary institution.
The LifeStart Student Loan helps you to complete your studies by providing finance to cover the costs. During the course of your studies, you only pay interest if the main account holder banks with FNB Namibia. After you have graduated, capital is repaid over the same period of time as the studies for which the loan was granted.
All registered students, studying towards internationally recognised degrees or diplomas of at least three years duration, or post-graduate degrees or diplomas, may apply for the LifeStart Student Loan. There is no age restriction for student loans and both full-time and part-time students can apply.
To apply make sure that you have the following
| Year | Amount | Interest rate |
|---|---|---|
| 1 | N$25 000 | Prime |
| 2 | N$26 000 | Prime less 1% |
| 3 | N$27 000 | Prime less 2% |
| 4 | N$28 000 | Prime less 3% |
| 5 | N$28 000 | Prime less 4% |
| 6 | N$28 000 | Prime less 4% |
Please note: To qualify for the reduced rate above, the student needs to have an account with FNB, such as the LifeStart Account. If the student doesn't open an account with FNB, the loan will be re-payable at prime plus 4%.
Full time and part time students registered at recognised institutions of higher learning, studying for at least three years
