@carlv_52 So you agree that it would not be wise to take this offer?
I don’t really get it though. Why reject my student loan? This is without even getting my last academic results, my registration confirmation etc? The consultant couldn’t give me an explanation.
@delistuff Absolutely don't take this offer. They said no to a student loan so shop around at different institutions for a student loan. Get a sensible structure and don't go this route.
@delistuff Wait until they insist on you paying their life insurance linked to the loan... mine was almost 1/3 the repayment price... with no benefit....
@delistuff Compared to globally, South Africa views its people as incredibly risky to loan to. So unlike the rest of the world, our personal loan rates are about as bad as credit card rates. Some banks offer better interest rates on cards if the bank account type (usually income) is high enough. Another thing to note is these loan rates can usually be negotiated, quite significantly. I have gotten mine improved by 6% before, for example. In summary, loans in sa suck. Savings is really a better long term option. But if you must - cc is just about as good, but will have higher monthly payment than a loan.
@delistuff My car was written off a week ago and there is no way I'm financing a new at the moment! My son is just going to have to get get use to 8km piggy back to school in the morning
@delistuff What are you using the money for ? If it’s to study please be sure that as soon as you graduate the benefits of the course will reflect in your salary for example writing a board exam or formal certification. If this course will not result in immediate benefits I would suggest saving up to study or getting funding from a bursary. But getting a loan to study without properly evaluating the benefits vs the cost would be unwise.
