Helpmekaar Studiefonds Student Loan

Written by Keagan HendricksStaff Writer (Unisa Alumnus)

Reviewed & verified by Naledi KhumaloSenior Admissions and Bursaries EditorVerified

Helpmekaar Studiefonds (HSF) is a non-profit company in Bellville that lends money to full-time students for the whole length of their course. It is a registered credit provider (NCRCP 3592), so its product is a real loan with interest and a credit-checked guarantor, not a bursary. What sets it apart from a bank loan is the rate, which during study sits one percentage point below prime, and the promise of funding for the full course from the start. Applications for 2027 are open and close on 30 September 2026.

The fund has an unusual history. It grew out of the Helpmekaar movement that raised money to pay off the fines and damages claims of the rebels of 1914-15; the money left over was put towards education, and the Cape fund took the name Helpmekaar Studiefonds in 1965. Since 2011 it has made about 250 new loans a year. Its website is in Afrikaans, and its language policy commits it to offering credit documents in at least two official languages.

Maximum loan amounts for 2027

Most HSF money goes to students at universities and universities of technology; the fund says about 12.3% goes to smaller accredited institutions. Loans are for a first qualification by preference. Professional postgraduate years that form part of a course, such as the Honours in accounting (HonsBRek), the LLB or a psychology Honours, are funded as part of a four-year term. Other postgraduate study needs a separate additional loan, applied for by 30 November after the undergraduate course is finished.

Households under R350,000 are sent to NSFAS

HSF aims at families who earn too much for state funding but still need help. Students from households with a gross annual income of R350,000 or less are normally not considered, because the fund expects them to qualify for an NSFAS bursary at a public university or TVET college. Other conditions:

• the student must be a South African citizen;
• study must be full time in 2027, on a course accredited by SAQA or the Department of Higher Education and Training; distance students qualify only if they finish in the same time as the full-time course;
• HSF does not fund study abroad;
• applicants must meet the board’s selection criteria, which include academic performance.

The guarantor and the credit check

Every loan needs a creditworthy guarantor (“borg”), usually a parent or relative, who signs the contract with the student and takes full responsibility for the debt if the student does not pay. HSF runs credit checks on the guarantor and the guarantor’s spouse, and any adverse listing leads to immediate rejection. The manager may ask for more security: HSF accepts cession of policies with a surrender value, investments, shares or unit trusts, but not retirement annuities, pension or provident fund investments, or life policies with no cash value. If the first guarantor cannot offer enough security, a second guarantor may join, as long as it is not the first guarantor’s spouse.

Interest while studying and after

During the study years the interest rate equals the banks’ prime rate minus 1%, and interest is charged only on the amount drawn. The interest and insurance on the outstanding balance must be paid every month by debit order while the student studies; if a payment falls behind, HSF stops further payouts. After graduation the rate becomes prime, and the capital, interest and insurance are repaid in equal instalments over twice the study period for one- to five-year courses, or a maximum of ten years for six-year courses.

Loans are covered by a Sanlam-underwritten group life scheme unless the student arranges something else with HSF. The premium is 17 cents per R1,000 of the outstanding balance during study and 55 cents per R1,000 afterwards, and the cover settles the loan, and so the guarantor’s liability, on the death or disability of the student.

How the money is paid out

Students upload a claim on the online portal for each payment, with the institution’s latest statement, and may submit up to four claims a year. Tuition is paid straight to the institution. Only once fees are fully paid can any balance go to the student for private accommodation, books or living costs. Students living at home may claim at most R35,000 for living costs, and students whose bursaries already cover full study costs may withdraw only half of the annual loan for living costs. Results must be uploaded at the end of every semester, and a student who fails without good reason can have the loan recalled.

Registering on the portal

Read the HSF general information document first, then register on the Helpmekaar online portal with the student’s name, ID number and email address. The guarantor must use a different email address. HSF recommends Chrome on a computer, not a phone. Login details arrive by email; if they do not arrive within ten minutes, phone the office rather than registering again, because the system will block you. Upload files under 10MB with no passwords:

• certified ID of the student;
• latest Grade 12 results, or the full academic record for current students;
• certified IDs of the guarantor and spouse or life partner;
• the ITA34 tax assessment of the guarantor and spouse for the relevant tax year, plus their latest payslips;
• proof of address no older than three months.

Proof of acceptance at an institution is not needed to complete the application, though selection programmes such as medicine may be asked for it. Once a loan is approved and the signed contract received, the student and guarantor complete a FICA questionnaire before any money is paid. Loans depend on the funds available, so HSF encourages early applications. Details are on the HSF application page; the office is at 26 Bloemhof Street, Oakdale, Bellville, on 021 930 8155 or info@helpmekaarfonds.org. Staff of British American Tobacco and Heineken, whose company study funds HSF administers, apply through their employer instead.

Families below the income line should look at our guide to who qualifies for NSFAS. To compare terms, see the Standard Bank student loan and our explainer on the financial obligations of student loans.

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