Thursday, 12 December 2013

Festive Greetings





We would like to wish you and your family all the best over this festive season. Thank you for your continued support during 2013. We wish you well into 2014, hoping that you reach all your dreams by unlocking even more potential in the new year.

We will be here to answer your calls and respond to requests throughout the festive season, hoping to assist you when applications for 2014 matter to you most! Our Call Centre will be open throughout the festive season!

Operating hours:
08h00 – 17h00, Monday to Friday. Closed on public holidays

Until next year!

Wednesday, 4 December 2013

Year of The Artisan &Skills-Based Education: How To Become A Builder





Whether you want to assist in building a community or whether you enjoy working with your hands, this month we take a look at what it takes to become a builder. A builder is responsible for several different jobs surrounding buildings and construction and often assumes the position of contractor during a project. Being a builder has several benefits, although it often demands hard physical work. As a builder, you can be self-employed or you can work for a construction or development company.

As a builder, you are responsible for a variety of things which include:
·         Working with the architect to build according to specifications
·         Planning and buying the relevant building equipment and material
·         Managing several contactors (like tilers or electricians)
·         Understanding the relevant building laws and regulations
·         Managing a team of builders to ensure that the project is completed on time and according to plan
·         Understanding how to accurately and safely operate a variety of equipment associated with the building process.

If you…
·         enjoy working outdoors
·         are skilled and enjoy working with your hands
·         enjoy being accurate
·         have a fine eye for detail
·         have a steady hand
·         enjoy working with others
… then you could be a perfect candidate to become a builder!

Training is a very important part of building, mainly because there are important safety regulations to adhere to during the building process to ensure that buildings are safe for occupation and that they will not be affected by the elements (like wind and rain). If you want to be a builder, it is suggested that you get formal training. It is always an advantage to be able to supply a future employer with certificates and paperwork to prove that you are skilled for the job.

There are several colleges that teach building subjects – you can confirm with the Construction Engineering Training Authority (CETA) whether your college or course is certified. If a course is CETA accredited it means that they comply with the minimum industry standards. This is a good course to choose and you know that your training will be of good quality and your certificate valid.

You can contact Eduloan as soon as you have decided which school or training college you would like to study at and one of our consultants will be able to give you all the information you require to get the financial assistance you need to realise your dream of becoming a builder. Keep in mind that we also offer loans for all your study equipment – so you do not have to worry about having to buy a level, hardhat or drafting table. For more information or to speak to one of our Eduloan consultants, visit our website www.eduloan.co.za.

Tuesday, 26 November 2013

Post-Study Financial Freedom – Why Is It So Important?


Whether you are thinking about applying for a study loan, in the process of your loan application or whether you have already committed to a study loan, the monthly repayments would most definitely play a role in your budgeting and planning. At Eduloan we ensure that your study loan is paid off by the time you complete your studies, but why is this so important?

Lowering Your Debt To Income Ratio (making sure your debt is as small as possible in relation to your income and does not have a large effect on your budget)
When you start working, it is important to plan your budget according to your income (how much you earn). When your study loan is paid off, you have one less debt to worry about when you allocate money to your living costs.

Having some extra money available at the end of the month
It is always a good idea to save for emergencies. If your study loan is paid off by the time you complete your studies, you can start saving money for those emergencies, a new car, a house and other expenses.

Planning for the future
It is very important to set yourself financial goals. A study loan is often the first financial commitment that many young people make. After your studies, you might want to buy a car, a house, take out annuities, set money aside for retirement and preparing for your own children’s futures could be some of the goals that you might have to set yourself.

By paying off your study loan by the time you complete your studies, you free yourself from that financial commitment. You can calculate your budget with our budget calculator and then view our quick-reference table to see what your installments will be. Visit www.eduloan.co.za today and contact us to find out how you can benefit from our study loan options.

Wednesday, 20 November 2013

Introducing The New Eduloan Website – 5 Things You Can Do Efficiently

At Eduloan we do everything we can to help you to unlock your potential and pave your way to success. In addition to our educational finance solutions, great customer service and on campus assistance with our branches on many major campuses across the country we now introduce to you the brand new Eduloan website: www.eduloan.co.za.

Developed and enhanced to give you all the information you need on one easy to use platforms, we have made a list about how this useful tool can help you unlock your potential with a simple click of a button.

Apply For A Study Loan Online
You can now apply for a study loan by either downloading an application form in a preferred language of your choice, completing it and submitting it to us or you can complete the process completely online .

Apply For A Study Tool Loan
Whether you need a loan for textbooks, a laptop or tablet, musical instrument, a scientific calculator, a stethoscope or safety equipment, we can assist you with a loan to cover all your study tools and equipment while you study. You can apply for this online or by downloading an application form from our website.

Calculate Your Installments Using Our Repayment Calculator
Find out how much your loan will cost you by using our repayment calculator tool. Just complete all the fields and the system will automatically calculate your monthly instalments for you, including all related fees. You can adjust the monthly instalment by increasing or decreasing the number of months or your loan amount to accommodate your budget.

Access Your Account Information
Do you want to keep an eye on what’s happening on your account? We have an easy access portal that allows you to view your application status, manage your Eduloan account, view your account statement and update your personal details.

View Our Exclusive Laptop and Tablet Deals
At Eduloan, we offer great laptop and tablet deals! When choosing your laptop or tablet, you will be able to select from leading brands like HP, Samsung, Lenovo, Toshiba, Dell and a whole lot more. Because we know how important the software is, your laptop comes preloaded with a Microsoft operating system and Microsoft office program for maximum performance. Many of our offerings also come with a service warranty. So, in the unlikely event that something should go wrong, simply bring it into the nearest repair centre!

Visit our new Eduloan website today and find out how we can assist you in unlocking even more potential!


Friday, 15 November 2013

Studying A B.Com – What Does It Mean And What Can You Do?

Many prospective and current students are talking about studying a B.Com. But what does that mean? Should you be studying it? What career can you follow if you study a B.Com degree? This week we take a look at the B.Com degree, answering your questions and looking at how this degree can unlock your potential!

What does B.Com stand for?
B.Com is a short term generally used for a Bachelor of Commerce degree. A B.Com generally consists of a collection of subjects that you can choose from, should you like to specialise (or major) in a certain interest field. Here is a short list of some of the specialised fields:
  • B.Com in Accounting Science
  • B.Com in Investment Management
  • B.Com in Quantitative Management
  • B.Com in Business Management
  • B.Com in Economics
  • B.Com in Banking
  • B.Com in Law

A B.Com programme offers you the opportunity to become a public or private sector expert, equipping you with the knowledge and skills to focus on economics and business management.

What careers options are available to B.Com graduates?
Career options for B.Com graduates are plenty and not limited to only one or two career paths. Many B.Com graduates become accountants, auditors, information system officers, taxation specialists, marketing managers or customer relationship officers. Your role in the company could also vary from management to business planning, development and quality management or marketing. You can practice in the public or private sector and your skill does not have to be applied directly to banking or auditing. If you are interested in the fashion industry, you can still apply your skill to it by becoming an accountant at a retail brand for instance. 

What are the benefits of studying a B.Com degree?
There are several benefits of studying a B.Com degree. Here are just a few reasons you should consider a B.Com degree:
  • Most B.Com degrees give you an opportunity to study the general degree initially before choosing your stream or major. This allows you to gage where your strengths are and what stream or major interests you most
  • Career opportunities are not limited and that means that you have many opportunities as a B.Com graduate
  • A B.Com degree is a great degree to prepare you to work in the public or the private sector
  • As a B.Com graduate you are well equipped to work for a company or to excel as an entrepreneur

Where can I sign-up?
Entrance requirements for a B.Com degree include Matric exemption. You will have to have Mathematics as one of your Matric subjects, plus two languages (of which one should be English). It is however very important to confirm the specific entrance requirements of the B.Com degree offered at your chosen tertiary institution. B.Com degrees are generally offered at universities and colleges.

If you would like to apply to study a B.Com degree, you can contact us to find out how we can assist you with a loan to cover your tuition fees as well as a loan for your textbooks. And because we understand the importance of technology in the business and economic fields as well as how important it is for you to have access to information, we can also offer you a loan for a laptop or a tablet. Visit our website today to find out how we can assist you to unlock your potential as a B.Com graduate!

Monday, 11 November 2013

Year of The Artisan &Skills-Based Education: How To Become A Tailor


A Tailor makes, alters and repairs male and female garments (clothing). This can include formal wear, couture clothing, special occasion wear, dresses, coats, bridal wear and other more general clothing garments. Becoming a tailor could be a very exciting career choice since there are constantly new styles, developments and trends in the fashion industry.

As a tailor, you are responsible for a variety of things which include:
  • Helping a customer decide what fabric to use and what style to consider for their garment
  • Designing a fresh pattern or altering an existing pattern
  • Taking accurate measurements of the customer
  • Cutting the material according to the pattern
  • Assembling the garment using a sewing machine or sewing it by hand
  • Arranging a fitting with the client to ensure that the garment fits them correctly
  • Making alterations
  • Adding a variety of decorative and functional items like buttons and button holes, zips and beads

As a tailor, you can work for yourself, a design house, a clothing factory, a dry cleaner (making adjustments) or you can work for a major retailer. The options are endless and you will be able to work in the environment doing what you enjoy most – some tailors enjoy making alterations, whereas others prefer making patterns.

If you…
  • are interested in fashion
  • are skilled and enjoy working with your hands
  • have a fine eye for detail
  • have a steady hand
  • enjoy being accurate
  • enjoy working with others
  • have stamina (at times standing is required)

… then you could be a perfect candidate to become a tailor!

If you want to be a tailor, you can complete a course in patternmaking or fashion design to ensure that you have the skills that you can apply when you approach an experienced tailor or retailer. These type of courses are available from a variety of FET colleges and technikons.  It is always recommended that you confirm the accreditation of the college and that you check what the college’s entry requirements are.

You can contact Eduloan as soon as you have decided which school or training college you would like to study at and one of our consultants will be able to give you all the information you require to get the financial assistance you need to realise your dream of becoming a tailor. Keep in mind that we also offer loans for all your study equipment – so you do not have to worry about having to buy a sewing machine, material or any of your other equipment. For more information or to speak to one of our Eduloan consultants, visit our website www.eduloan.co.za.

Wednesday, 6 November 2013

Laughing All The Way To The Bank


By David Scholtz - Chief Financial Officer at Eduloan

Few of us can afford tertiary studies without a loan. And, let’s face it, to invest in your future by securing a study loan can be an excellent decision as long as you understand exactly what the loan entails and where it will take you.

Before you even consider a loan, think long and hard about your future career path and how your studies will get you there. It’s no use choosing a career, studying for three or four years and then you can’t find work.

Proper career planning, finding your niche in a job market where critical skills are key in finding employment and good management of your finances all play a crucial role in your or your child’s future.

It is a sad reality that South Africans are generally ignorant about personal finance, and many live by the habit of spending now and paying later. Currently the ratio of debt to disposable income of households is around 76%, it tells you what percentage of consumers’monthly gross income goes toward paying off debts. About 47% of credit active consumers are two months in arrears or more. About 14% of these consumers have judgements or administration orders against them. A fifth of credit-active consumers are three months or more in arrears. This paints a picture of a nation overextending itself.

There are several ways of getting and staying out of debt.

The first is education about managing your personal finances and the cost of debt.
People who know the meaning of debt, a loan and saving money- and who understand the impact of these - are the people who can plan their lives and ensure a better future for themselves and their dependants.

Debt consolidation is another popular way of alleviating the burden of over-indebtedness.

While this may be a good idea for some, it can result in consumers being locked in to paying off their debts for longer periods and effectively at higher interest rates and fees.

 The main appeal of debt consolidation is convenience.

How does it work? Instead of a consumer paying off a number of different loans every month, which might have different interest rates, the consumer can just apply for one big loan, pay off all the other debts they have, and then be left with making a single payment towards that loan every month. The repayments are usually lower instalments, giving them more disposable income, which at first glance seems very attractive.

What most people are not aware of is that debt consolidation locks you in. You still end up owing the same amount of money, but pay your debts off over a longer period and not always at the lowest available interest rates. This means you might end up paying more in the long run. All that is happening is that the repayment of the debt is delayed from the immediate to long-term.

The best option remains to pay off all debt as soon as possible, and then start saving the amounts that you formerly paid over to creditors.

The impact of over-indebtedness on the financing of study loans is considerable. All credit providers look at certain criteria. The credit providing environment is regulated and interest rates are determined based on creditworthiness which includes both affordability and behavioural history. First they will assess the affordability of the commitment to the consumer; they will look at the regular expenses, the disposable income, repayment track record and credit history. The industry is regulated and there are strict rules in place. If you are not creditworthy, it will prove difficult to get a loan.

Eduloan’s model is slightly different to that of micro lenders or banks. When looking at credit our lending is to focus more on salary deduction, whereby we collect the amounts owed via the employer and not the individual’s bank account. The funds are also disbursed directly to the educational institution.

Although Eduloan’s method of granting loans falls under unsecured lending, we have the ability to collect before the person gets his take home salary, thereby protecting our clients from defaulting as he doesn’t have to still pay his loan back from the take home portion.

We also educate clients about their loans. It is all about understanding the value of the loan, how the loan is structured and, if denied, explaining why the loan was denied. We explain exactly how Eduloan loans work in terms of the terms and installments. We are very transparent and there are no hidden costs. The interest rate is fixed, and the installments remain the same for the period that clients sign for.

Here is our advice to parents who want to be able to finance their children’s  education:
  •         Live within your means and save
  •         Don't spend what you don’t have.
  •         You need a savings buffer for emergencies, or for when interest rates go up.
  •         Try and save as often as much as possible.
  •         Don't buy on credit, especially for funding living expenses and holidays.
  •         Have a plan – save for your children’s or your own education, or invest elsewhere.
Mindsets about financial literacy need to be changed, and not only of those who want to secure their future. Corporate South Africa and other employers have a responsibility too. The latter should consider offering financial literacy courses for their personnel, who can then teach the basics to their children at home.

When you look at debt, you need to understand that not all debt is bad, specifically debt that will contribute to your financial well being. Educational debt falls into this category as it gives you the opportunity to invest in your own or your children’s education and will go a long way in setting up the foundation for a debt free future as education is key in improving your income earning potential.

ABOUT EDULOAN
Eduloan is a leading education finance specialist operating in Southern Africa. Since its inception in 1996, Eduloan has provided more than 7200 000 study loans valued at R3.7-billion and continues to help thousands across Africa unlock their true potential. Currently, Eduloan approves between 40 000 and 50 000 loans annually to students, a significant proportion of them working professionals.
Eduloan’s loan offerings include repayment options at extremely affordable, fixed-interest rates, for the duration of the loan period. 

Study fees are paid by Eduloan directly to the institution, taking the administrative burden away from the student/corporate institution.  Loans can be paid back either through a salary deduction or a debit order.

For more information, call Eduloan’s Client Services Department on 0860-55-55-44 or visit www.eduloan.co.za. Follow us on Twitter/EduloanSA and Facebook/EduloanSA.

Friday, 1 November 2013

Planning (And Sticking) To Your Budget


Students are notorious for being broke or short of cash. But how can you budget that little money that you earn from your part-time and weekend baby-sitting jobs to ensure that you make it to the end of the month? This week we take a look at budgeting and how you can stick to it!

A budget is a plan that you put together to account for your income and expenses. This means that you plan your money so that your expenses do not exceed your income and that you can reach your financial goals – whether they include saving for a car or anything else. If you stick to your budget, this can be a very important tool to make sure that you get to the end of the month without having to worry about your pockets being empty at the end of the month.

Make a list of your income
Make a list of all the income you receive in a month. This includes pocket money and any other money you receive from odd part time jobs as well as from any bursars. You can also include your study loan amount, since you will have to deduct your expenses from this as well.

Plan your expenses
Make a list of all your expenses. Include your tuition fees, cost of textbooks, any study equipment you might require, your accommodation costs, the money you require for food as well as traveling expenses. You can also plan any expenses that might come about in the month like any birthday presents you might need to buy, maintenance costs on your car or even just holiday pocket money.

Split your expenses into categories
Take the list of your expenses and prioritise them. This is important because you might have to exclude something from your budget in the first month and make provision for it in the next month when you have less important things to budget for.

Once you have made your list of expenses and marked the most important ones, you can deduct your expenses from your income. Make sure that you are not in a negative balance. If you are in a negative balance, you will have to revise your expenses to ensure that you can pay for the most essential things.

Be realistic!
Try be as realistic as possible. If you are realistic, it will be much easier to stick to your budget. Check in on your spending every now and then throughout the month to make sure that you are well within budget.


You can visit our website to use our budget calculator. This will help you establish a basic budget. Remember that your budget might change from month-to-month and that you will have to keep your calendar in mind when you plan your budget. 

Thursday, 31 October 2013

Keep Your 2014 Registration High On Your Priority List


Whether you are enrolling your child into school, just got accepted to your chosen college or received your letter of acceptance from your chosen university, you will be faced with the registration process sooner, rather than later. This week we take a look at why registration is important, no matter where you are studying:

Scholars
Scholars generally register well ahead of the academic year. If your child is attending grade 1, you might have had to pay your deposit before a deadline or you have until the start of the 2014 first school term to do so.

College students
Many colleges require you to register in the December prior to the start of your academic year.

University students
Many of these institutions will require you to pay a registration fee when you register. This often acts like a deposit for your studies and can even be a term’s school fees in advance or a percentage of your study fees.

Many people forget that they will have to cover these expenses and run into problems during the registration process… remember to confirm the registration details of your school, college or university and to make sure that you have funds available at the time of registration.

#TIP: Plan in advance. Ask the right questions and save money to ensure that you complete the registration process as quickly and efficiently as possible, so that you do not have to pay penalties for late registration, or worse, miss registration all together.


Eduloan is now open for 2014 loan applications. We have various loan options available and offer solutions that can assist you with registration fees and study fees for school, university, college or training. Contact us today to find out how we can assist you!

Monday, 28 October 2013

Year of The Artisan & Skills-Based Education: How To Become A Draughtsman


Draughtsmen and women translate the drawings and ideas of engineers, architects and scientists into detailed drawings. They prepare technical drawings and plans used by production and construction workers to build everything from manufactured products such as spacecraft or industrial machinery, to structures such as office buildings or oil and gas pipelines.           

Their drawings show the technical details of the structures that specify dimensions, materials to be used, and procedures and processes to be followed. Drafters fill in technical details, using drawings, rough sketches, specifications, codes and calculations supplied by engineers, surveyors or architects.

As a draughtsman, there are a variety of specialties that you can get into:
  • Architectural drafters draw plans for all kinds of buildings.
  • Civil engineering drafters draw plans for bridges, roads, irrigation and construction projects.
  • Mechanical engineering drafters sketch plans for machines and engine parts.
  • Electrical engineering drafters finalise plans for electrical circuits and wiring systems in buildings for example.
  • Structural engineering drafters draw designs for towers and steel frames.
  • Town and regional planning drafters draw maps of sewage, drinking water, steam, heating, cooling and conveyor installations, and they may also build models for projects.
  • Cartographical drafters draw different types of maps such as cadastral, topographical and meteorological.
  • Mining drafters draw plans of mines, including three-dimensional plans which could help for example, with the upgrading of safety standards. 

As a draughtsman, you could work at architectural firms, engineering companies, municipalities, construction companies, metal manufacturing companies, mining companies, contract draughtsman firms, various government firms or you can choose to be self-employed and to do freelance work.

If you…
  • are meticulously accurate
  • enjoy doing detailed work
  • are able to concentrate for long periods of time
  • have three-dimensional perception
  • have good vision
  • have good eye-hand coordination and free-hand drawing skills
  • are interested in and have a flair for computer work
  • have stamina (at times standing is required)

… then you could be a perfect candidate to become a draughtsman!

Draughtsmens' training consists of 18 months of academic training, available at most universities of technology, FET colleges and technicons, and 18 months of in-service training at an approved firm.

You can contact Eduloan as soon as you have decided which school or training college you would like to study at and one of our consultants will be able to give you all the information you require to get the financial assistance you need to realise your dream of becoming a draughtsman. For more information or to speak to one of our Eduloan consultants, visit our website www.eduloan.co.za.