Tuesday, 25 June 2013

Year Of The Artisan &Skills-Based Education: How To Become A Mechanic

This year has been declared the “Year of the Artisan and Skills-Based Education” by government, to promote the diplomas and courses offered by Further Education and Training (FET) colleges in South Africa. This month we will be looking at what it means to become a mechanic and what you will have to study to qualify as one.

A mechanic has a passion for solving problems, enjoys working with his hands, finding faults and fixing them. Becoming a mechanic is hard work and requires commitment and dedication to training, whether it is via apprenticeship or whether you gain a qualification from one of the many universities and colleges offering a degree or diploma that you can study in order to become a mechanic.

Mechanics are responsible for maintaining machinery, repairing faulty parts and ensuring that machinery works as intended. Mechanics can work on cars as well as various other vehicles (like motorcycles, trucks and tractors for instance) as well as commercial or manufacturing machinery.

Mechanics may work in an industrial environment, in a workshop or garage or they can even be self-employed. Small companies often employ mechanics to look after the day-to-day working of their machinery or larger companies could employ a mechanic to look after their fleet of vehicles or larger pieces of equipment.

What do I have to do to become a mechanic?
There are various options for you to consider if you would like to become a mechanic:
·         You can study at a Further Education Training college or university. Various colleges and universities offer degrees, certificates and diplomas in mechanics or engineering.
·         You can enroll with a certified apprenticeship programme. An apprenticeship programme lasts for four years and provides you with plenty practical experience ahead of your trade test.

There is a complete list of schools and colleges listed on Manufacturing, Engineering and Related Services Sector Education & Training (MerSETA) website. These schools and colleges adhere to the MerSETA standards and comply with their principles to maintain the best standards in the industry. This website also lists a variety of apprenticeship programmes that you can apply to.

It might also be a good idea to talk to a mechanic or a mechanical specialist to find out how they enjoy their day-to-day activities and to gauge whether it is something that you would like to do.

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 to realize your dream of becoming a mechanic. For more information or to speak to one of our Eduloan consultants, visit our website www.eduloan.co.za.

Thursday, 20 June 2013

Education Week & Career Indaba 2013 – What you Need to Unlock Your Potential

Between 20 and 22 June there are two related events taking place at the Sandton Convention Centre, making it the one-stop-education-shop for three days. The two events are set to draw plenty attention this year, focusing on helping South Africa’s future generation to make the right career choices. Career Indaba features programmes that will encourage conversation between education institutions and industry specialists and suppliers.

Do we have your attention?
Join Eduloan at both events, where we will offer you an opportunity to come and discuss education finance and how we can assist you in unlocking even more potential! Remember that Eduloan has a variety of partnerships in place that can assist you in reaching your educational dreams – agreements with the government as well as a variety of employers and institutions. 

Here are the details:

Education Week 2013

Date: 19 – 22 June 2013
Venue: Sandton Convention Centre, Johannesburg

This expo will draw a variety of learners between grades 9 and 12 as well as Further Education Training  and Private College students  as well as university students and recent graduates all looking for an opportunity to either further their education or to establish where their interest lie.

If you are one of these learners or students, you will be able to: 
  •  Listen to presentations on different career opportunities 
  •  Understand which subjects can lead to your dream job 
  •  Take an aptitude test to discover where your skills lie 
  •  Decide which universities or colleges to choose for your tertiary education 
  •  Secure student loans and bursaries at the Eduloan stand 
  •  Meet with potential employers

Join Eduloan at this year’s conference on Friday 21 June 2013 at 11h30 (at Workshop Area 2), where Warren Hero will be discussing Eduloan’s education solutions. We offer financing for all levels of tuition – school, university or college. Our loan offering also includes loans to cover outstanding balances, registration fees and we will help you pay for all your study related items with loans for textbooks, accommodation, laptops, tablets and other relevant study equipment.

Career Indaba 2013
Date: 20 – 22 June 2013
Venue: Sandton Convention Centre, Johannesburg
Career Indaba has a focus on basic education, further education as well as higher education. Educational technology will also feature and aligns well with the aim to provide a meeting point for educational professionals, suppliers and stakeholders.

So if you are a teacher, or if your business is in any way connected to the education industry, we would like to invite you to join us at this event to assess, develop and discuss challenges in the development of education in Africa.

Friday, 14 June 2013

Celebrating Students – Youth Day 16 June 2013

On 16 June the entire nation celebrates Youth Day to commemorate the Soweto Riots that claimed so many lives and remind us annually of the importance of our youth. Intended to remind us of the constitutional right to adequate and equal education, Youth Day also seeks to make young people in a free South Africa more conscious of the sacrifices made by other young people so that they can enjoy the benefits of a better education, opportunities, safer home environments and health care.

This year, Eduloan would like to salute our leaders of tomorrow, celebrating their potential by empowering them through education and encouraging them to make wise choices to support a sustainable future.

2013 has been declared Year of The Artisan. The aim of this initiative is to raise awareness amongst South African youth about career opportunities that will help gain skilled workers in the areas where there might be a lack of certain skills that can contribute directly to the development of South Africa. By focusing on skill-based education, the department of education can ensure that we have artisans to support and sustain our economic and infrastructure development. Examples of these types of occupations include plumbers and electricians amongst others.

By supporting students’ passion, abilities and skills, South Africa can empower its future leaders to unlock their potential. Eduloan has empowered thousands of South Africans to unlock their potential and start realising their dreams. To date we have awarded over 700 000 study loans.  We understand the real costs of education and offer study loans which cover not only the course fees, but additional expenses such as textbooks, registration fees and educational tools such as tablets and laptops. In addition, Eduxtras, our unique bursary management tool, will allow you to manage and allocate bursary funds for specific needs such as books, accommodation food and more, ensuring that your funds are spent appropriately.  

If you would like to unlock your potential you can visit our website (www.eduloan.co.za), like our page on Facebook (www.facebook.com/EduloanSA) and follow us on Twitter (@EduloanSA).
If you, as the future youth of South Africa have a story to share, you can enter our Not Just A Student Number competition by telling us how you have made a difference or how you have empowered yourself to make a difference to your future. If your article stands out from the rest, you could bag win R1 000 in cash.

Tuesday, 11 June 2013

What You Need to Know About Your Student Loan

Q&A with Eduloan’s Financial Guru

Whether you have your heart set on a certificate, diploma or degree at one of South Africa’s finest tertiary institutions or whether you want to further your education while working, an Eduloan study loan will help you unlock your potential.

It might be a good idea to establish some basic facts about a study loan before you dive into your studies. We chat to Eduloan’s Chief Financial Officer, David Scholtz, who explains the ins-and-outs of your student loan:

Q: What are the benefits of committing to a study loan with Eduloan?
Your study loan is made to your affordability criteria, ensuring you never feel the pressures of being overburdened.  Registration fees, outstanding study fees and other additional costs associated with your studies are covered by our study loans - all you have to worry about is achieving your educational goals. Whether you are looking to increase your salary through improved qualifications, qualify for a better job position or just for personal enrichment, Eduloan will be your partner for your educational journey.
You don't need to put down a deposit and we pay the amount you owe for your studies directly to the institution and then deduct the instalments from your salary or bank account each month, which means no admin for you. Finally, you get repayment periods of 6 to 24 months.

Q: What do I need to apply for a study loan?
Applying to Eduloan is easy! If you are not full time employed, anyone who is can sponsor you. You will need to complete and sign our loan application form (you can download this information from our website) and include the following documents:
  • a quotation from the educational institution reflecting your name and student number, the study program, the balance outstanding (if applicable);
  • a certified copy of your South African Identity Document;
  • you or your sponsor's pay slip (not older than 3 months);
  • you or your sponsor's bank statements for the last 3 months. If you or your sponsor are self-employed, we require you or your sponsor's business bank statements for the last 6 months and proof of business ownership as well as you or your sponsor’s certified ID and a quote from the institution.

Once you have compiled all of your document and completed the application form, you can apply online, visit your Eduloan office on campus or giving us a call on 0860 55 55 44.

Q: How do I know how much I can afford?
Eduloan will do an affordability assessment by using the income and expenditure information provided on your loan application form, and by looking at your accounts on the Credit Bureau and a register called the National Loans Register. Based on this, Eduloan will determine whether you can afford the full loan amount you've requested, or alternatively the amount that you would qualify for. Please note that Eduloan will not grant a study loan that is more than the amount that you owe the institution, as the money is paid directly to your account at the educational institution. You can also use our Instalment Calculator as an indication to calculate how much your monthly repayments would be based on your loan requirements.

Q: What if I don’t earn a salary?
If you are not full time employed anyone can apply for a study loan on your behalf, as long as they are in full time employment and provided that the Eduloan monthly instalments does not exceed 25% (based on a one year loan) of your sponsor's monthly basic salary.

Q: What is an interest rate and how is it calculated?
As we all know by now, debt is the amount of money you have to pay back to the person or institution (such as banks or retail stores) from which you borrowed. This amount consists of two parts – the actual borrowed amount, also known as principal debt or capital amount and the interest. Interest is the compensation paid to the person or institutions who lend you the money. It is normally expressed as a percentage of the borrowed amount, e.g. 15% per year. Therefore, it is wise to repay your debt on a monthly basis and not skip payments, as this will significantly reduce the amount of interest you repay at the end of the day. This is relevant to most debt incurred, like credit cards, clothing accounts, car finance etc.

Compound interest occurs when interest is added to the principal debt or capital amount, so that from that moment on, the interest that has been added also itself earns interest. This addition of interest to the principal debt is called compounding. A bank account, for example, may have its interest compounded every year: in this case, an account with R1000 initial principal debt and 20% interest per year would have a balance of R1200 at the end of the first year, R1440 at the end of the second year, and so on.
The effective interest rate is the interest rate on your debt restated from the nominal interest rates as an interest rate with annual compound interest payable in arrears. It is used to compare the annual interest between loans with different compounding terms (daily, monthly, annually, or other). Thus, the quicker you repay your principal debt, the less your effective interest rates will be.
The more diligent you are in repaying your debt, the more controlled the interest on your debt will be. In the end, the sooner you pay off your debt, the less time there will be for the interest to accumulate.

Q: Are there any hidden costs that I should know about?
At Eduloan, there are fixed monthly installments for your study loan which includes an affordable loan origination fee and monthly administration fee, which allows you to budget more effectively. There are no hidden fees and the payment periods are flexible according to your specific needs.

Q: What does my study loan cover?
Your study loan covers a whole lot of student related necessities such as registration fees, books, tool-kits, laptops, tablets and even accommodation for the duration of your studies, as well as your study tuition itself.

Eduloan has solutions for full-time and part-time students and even offer you the opportunity to deduct your fixed monthly repayments from your salary. For more information and to speak to one of our Eduloan consultants, visit our website (www.eduloan.co.za), like our page on Facebook (www.facebook.com/EduloanSA) and follow us on Twitter (@EduloanSA).

Thursday, 6 June 2013

I’m Not Just a Student Number – submit your story and stand a chance to win R1 000!

This month, we celebrate South African Youth. 16 June marks national Youth Day, a day we commemorate those who made a difference to the future of South African youth and lead to the fact that each and every South African has a constitutional right to adequate and equal education.

Eduloan is celebrating the individuality of South African students and scholars, recognising the potential in every person. We consider every student’s needs when we put together their student loan package, taking your dreams and ambitions into consideration and working out a payment schedule that will suit you and your pocket!

That’s why we’re asking YOU to give a voice to students all over Southern Africa. We want you to participate in our Not Just a Student Number initiative and submit a thought-provoking article for our blog based on the theme for the month.

Do you want the chance to prove that you’re more than just your student number or a name on a class register? Tell us why you represent the youth of South Africa.

Submit your contribution to competitions@eduloan.co.za before 30 June 2013 and we could select yours as the winning article to be featured on our blog for next month. We also have a R1 000 cash prize to give-away to the winning entry each month, so get your creativity going!

Your blog must fit to the theme of the month and must not be fiction (fic·tion [f k sh n] noun. Writing that is produced by the imagination and is not necessarily based on factand it should touch on your viewpoint and life as a student or scholar.

This month’s theme is: I am the youth of tomorrow
Thought Starters (some ideas to get you going):

  • This is how I want to make a difference in the future
  •  I have made a difference – tell us how you might already have made a difference in your life or someone else’s
  • How do you contribute to yourcommunity
  • How is your school/college/university helping you to make a difference


  1. Your article must be between 300-500 words long
  2.  It must be non-fictional (non·fic·tion [nänˈfikSHən] noun. Writing based on facts, such as biography or  history) and factual
  3. Your writing must not be degrading or libelous to any person
  4. Your article must have something to do with your life as a student
  5. Any piece containing profanity, hate speech or racism will be disqualified
  6. Your article could be reproduced in print or web publications on behalf of Eduloan.
  7. The judges’ decision is final and no correspondence will be entered into.
  8. All articles must be your own work – no plagiarism