Frequently Asked Questions

If you have any questions about the below questions, please email the SFA team at [email protected]

Who is eligible for an SFA loan?

SFA requires that each student borrower have a parent or guardian who acts as the primary borrower on the loan (this policy can change if the student is a graduate student). Both parties undergo a full credit evaluation administered by SFA and, both parties must be individually approved for the loan to be approved.

How are SFA loans structured?

SFA lends to students entering their second year or above or to students in specific vocational programs. SFA only lends up to 80% of the required amount for attending the institution.

Borrowers apply for a loan equivalent to one year of schooling. Once approved, SFA disperses the loan on a term basis directly to the educational institution. SFA continues to disburse funds on behalf of the borrowers each term if monthly payments are received. SFA will renew loans for subsequent years when borrowers are current. Before SFA will disperse any loans, borrowers must pay a "Commitment Fee" to the educational institution.

  • SFA lends up to 80% of the required amount for attending the institution.
  • SFA does not require collateral.
  • SFA requires a primary borrower (family member) and a student co-borrower
  • Borrowers pay both principal and interest as soon as the fees are disbursed. This allows our borrowers to begin to build a credit profile.
  • SFA disburses loans on a term/module/semester basis directly to the institution.
  • Borrowers are required to make monthly payments directly to SFA during the life of the loan.
  • When monthly payments are met, SFA releases the required amount of money for the next term.
  • You can pay for school fees over a longer period of time than traditionally offered.
  • You don’t need a credit history to apply for a loan.

Does SFA require collateral for a loan?

No. SFA understands that collateral requirements are a barrier for many potential borrowers across sub-Saharan Africa and seeks to rely on other methods, such as a cosigner, to facilitate financial access.

How does SFA determine creditworthiness?

SFA is developing a proprietary credit model to assess potential borrower and co-borrower's ability and willingness to pay. SFA assesses factors such as income (both formal and informal), length of time with employer, business ownership, and standing in the National ID database. SFA also analyzes information about job growth and industry trends to understand the employability of a student post-graduation.

Contact & Support

Student Finance Africa can help you fund your educational dreams and career aspirations.

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