FNB has reported a significant increase in student loan pay-outs, with a 116% rise in the six months ending December 2022. The bank has made student loans accessible through its app, aiming to help customers overcome financial challenges and achieve their educational goals. To qualify for a student loan, the principal debtor must earn a minimum monthly income of R3 000. Part-time students or full-time employed individuals can apply as principal debtors, subject to the income requirement. FNB offers a maximum loan amount of R300 000 per year which covers various expenses, including tuition fees, accommodation and textbooks.
