January 16, 2018

Student Loans for a Brighter Future

although bursaries and other forms of grants are always the preferred form of financial aid, a lot of students don’t have this luxury and have to rely on student loans. to most students a student loan can help them to concentrate on studying rather than worrying about sourcing of funds.

this article analyses the advantages of student loans and explains why this funding option will ultimately ensure a better future.

advantages of student loans

  1. obtaining a degree or diploma improves an individual’s chances of finding a steady job and a good salary.
  2. the centre of higher education transformation conducted a study that showed that an individual is more likely to be promoted to better-paying jobs if they have a tertiary qualification. in 2009 someone with an average matric certificate earned around r1100 per month, whereas an individual with an average diploma or certificate earned r3100 per month. this amount increased to r5400 per month for someone with an average degree. the trend is similar today, and the need for quality education even more critical.

  3. going through the administration process of obtaining a student loan and ultimately paying off the loan shows discipline.
  4. employers are always looking for people with discipline and integrity. someone displaying these characteristics would be able to fill most positions with distinction.

  5. student loans level the playing field.
  6. sports administrators always strive to level the playing fields in order for people with equal talent to achieve equal performance. the same applies to education and employment. student loans enable students with less finance to play on the same field as more fortunate students. money should never be the decisive factor when it comes to academic and job-related development. that is why companies try to as far as possible, provide free, job-specific training to all staff members. it all boils down to investing in human potential and talent.

  7. student loans help build credit.
  8. a student loan is the perfect opportunity to begin to build a solid credit history. by keeping up to date on loan payments a student can begin to lay the foundation of a good credit score. this could prove greatly beneficial further on!

student loans for a better future

student loans indirectly create a more socially integrated working environment.
student loans put historically disadvantaged individuals on the same playing field as historically advantaged people. this allows them to develop their academic, creative skills, talent and ultimately add to the human capital of south african companies. in a country where math and science skills are in critical demand, the need to obtain and effectively utilise these skills cannot be overemphasised.

contact approved today for assistance with exploring available student loans, and to help you select the best deal possible.

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