A
female
age
26-29,
anonymous
writes:Hi! I don't know where else to ask this, but I thought I'd give it a try here. It's a finance/school question. So I'm starting University next week. I need R32 000 for tuition (excluding books), then another R30 000 for renting a room, all for this year. Only my father works and even his salary can't begin to afford any of this, plus there's a family of 5 back home he needs to support as well. I've decided on a student loan, but I'm afraid of it's long term consequences - I don't want to go hungry when I finally start my dream job (as a speech therapist) one day. So how much do I take out? Should I take it out at all? A whole R60 000 or just half? Other websites or links that could help I'll also really appreciate. Also, I'm in South Africa :) Thanks!
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Fancy yourself as an agony aunt? Add your answer to this question! A
female
reader, Dorothy Dix  +, writes (9 February 2014):
Hi there. As you say your father can't really help you with this expense for education, you really have no other choice than to take out the student loan.
And especially, as you are about to begin studies next week.
Usually with student loans for university studies, the money borrowed doesn't start getting paid back until you begin your first paid job.
And a percentage each week comes out of your bank account, as repayments against the loan.
I don't know whether interest is charged, but when you see who you have to see to organize the loan, this will all be explained to you very clearly.
As well as what term the loan will be taken out over.
You will probably have some choice in this.
I really think that getting the student loan is the only choice you have.
And as your course goes only for one year, well then hopefully at the end of that year, you will find employment fairly quickly after that.
I wish you well.
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