Friday 20 July 2012

Should access to education be an employee benefit? (Part 2)

To read part 1 of this article, click here

The value many clients have received in dealing with Eduloan is the ability to take out more than one student loan for themselves and, in many cases, their children, and even the children of their domestic workers. With Eduloan, it is all possible because of the lending rates. Additionally, the rates make it possible for people to repay their loans sooner, with repayment periods spanning between six and 24 months, unlike bank loans, which can take up to six years to pay off.

It is important that corporate South Africa really takes a look at its role in making education accessible to employees, and, like the government, come to regard it as an important employee benefit.

A partnership with Eduloan presents a win-win situation for all involved and will serve to prioritise education, with employees getting their monthly nett salaries with the loan repayment already deducted - leaving them to focus on other things.

We are encouraged and proud to report that there are those in the industry who have begun to see the light. In making education accessible for even the most financially stretched individuals are blue-chip firms such as: Eskom, British American Tobacco (BAT) Holdings, Gijima Holdings, McDonalds SA, KWV SA, and Golden Leopard Resorts. Several universities have also come on board, including Stellenbosch, Nelson Mandela Metropolitan, Rhodes, Zululand, Venda, Walter Sisulu, UNISA, and the Tshwane Institute of Technology - and municipalities too, but more still needs to be done.

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