About Challenor Finance
For students applying for a student loan, it is generally the first occasion in their lives that they have ever undertaken this process.
Challenor is eager to assist in every aspect, as we believe in each client’s potential for greatness, and we have all the tools to get them where they long to be. Challenor appreciates the worth of higher education and commits to supporting students on their journey.
Student loan spesialists
Challenor has, throughout two and a half decades, honing their skills to specialise in student loan application processing. Gaining vast experience and great success with soaring approval rates, Challenor has become a titan in the financial service-providing sector. Despite this, Challenor has never lost sight of the most significant part of their work – the client.
Achieving your goals
The central focus is on delivering a top-shelf service, imparting valuable knowledge, and protecting clients’ financial interests. This means a unique combination of the most rapid feedback possible, maximum convenience, highly competitive interest rates, and easily affordable repayment arrangements. In this day and age, one can do most things online and Challenor’s service is no different.
Students are perhaps most accustomed to this automated way of communicating and so the application process via the Challenor website is perfect. The life of a student has its challenges when it comes to balancing studies, earning a living, socialising, participation in societies, and completing practical exercises or volunteer work. Challenor is also ideal for quick and easy interaction, online responses, and almost immediate provision of approved funds. That’s applying with the push of a button, 24 hour turnaround time, as well a direct pay-out within just 24 hours.
Challenor Finance Services
The cost of tertiary education is very expensive and coming up with the funds on one’s own is frequently not possible.
Fees at most South African universities run-up to R30 000 annually. It can be disappointing for parents who would gladly invest in their child’s future by paying for their studies.
Student loan solutions
Students may not be aware that they can apply for a loan themselves, despite a poor credit rating or perhaps not having a credit history at all yet. Challenor caters to applicants with bad credit too, so this does not mean the end of the road at all. For many students, it will be a first-time loan and they can feel apprehensive as with any new venture.
However, the long-term benefits of quality education and a professional qualification out way any obstacles. Challenor clients can navigate these hurdles with ease, so they need not feel alone and uncertain about their futures. Challenor has solutions that will propel clients beyond their expectations.
Student expenses do not only extend to tuition. Just as studying involves more than just sitting in lecture halls. Getting to classes means paying for transport every day. Accommodation can be costly if students stay too far from campuses, and must incur rental costs due to moving closer. Certain necessities must be purchased too. Some of these are textbooks, stationery, study guides, and tools; or even a tablet or laptop. A student loan via Challenor covers all these. On top of this, they offer grace periods to carry you through internships and volunteer duties, allowing you a pause in between payments.
Challenor Finance Product Details
- Loan Type Student loans
- Loan Amount up to R80,000
- Repayment 3 months to 24 months
- Decision 24 hours
Summary of Services
- Get a loan in 3 easy steps
- Apply within minutes
- Personal loans up to R80,000
- Quick and easy loan applications
Reliable and fast student loans
Bear in mind that there is interest to be repaid on student loans, so students still need to carefully budget and ensure that they can afford repayments each month.
Challenor is here to assist clients in how to set up a budget and what to include. Although the total figure of the loan is only due to being settled once students have completed their studies, it is this interest that has to be paid off monthly.
This means finding part-time or flexi-time employment is essential if clients do not have someone, like a family member, helping to pay off the interest. Having an income while studying is also paramount in saving toward loan repayment as due upon conclusion of studies. This way, once clients enter into permanent employment in their field of study, they are free of the burden of their student loan and can find financial wellbeing.
Usage of loan money
Student loans are paid out as a lump sum into clients’ accounts, so it is of great importance that students also manage the funds wisely. It may be tempting to dip into it for unrelated purchases, however, this will put you at a disadvantage and you can end up falling short on your educational expenses. It is a good idea to also prepare a budget for the loan money itself.
List all of your financial commitments relating to studies, and an estimate of what each will cost per month, adding any out of the ordinary or once-off payments as one monitor’s progress. This exercise is also motivational as clients can see how they are keeping up with payments and avoiding debt. Challenor loves to find ways to empower young people.
Customer Reviews & Testimonials
I would never have dreamt that I could afford to go to university. Challenor approved my application with ease.
— Durban —
Challenor managed to make my first loan experience an extremely positive one. I am so happy that I chose them.
— Limpopo —