Financing your studies with CodeSpace

Access the funding and support you need to train as a Software Developer. Apply for financing to fund your studies at CodeSpace so you’re able to launch your career in tech.

Tech Leaders Scholarship

Study now. Pay later.

Selected scholarship recipients will be granted a “study now, pay later” agreement. A sponsor will cover the upfront cost of your education. That means that you will only need to pay a R200 monthly administration fee while you study. Three months after graduating, you will start repayments of R1500/month for a fixed period. This contribution will allow the next young person to enter the program after you.

Girl Financing

Am I eligible to
study now and pay later?

To be eligible for a Tech Leaders scholarship:

  • You must be a woman between the ages of 19 - 28.
  • You must be comfortable using a computer and learning in an English medium environment.
  • No coding experience is required.
  • You must live in South Africa. If you are not a citizen, you must have a valid visa.
  • You must be available to study full-time. You cannot be employed or enrolled in other studies.
  • You will be chosen for your demonstrated leadership potential.
  • You will be chosen for your potential to thrive in a tech career.

We have limited funded spaces available for each intake. All applicants go through a rigorous selection process and do not automatically qualify for funding. Funding is reserved for candidates who are financially excluded and is awarded to applicants based on their performance in the application process.

Study Loans

Apply for a
study loan.

A study loan allows you to pay for your studies over time in installments.

Personal Bank Loan

You can apply for a study loan directly through your bank. Once you register for your CodeSpace course, we will send you a registration letter that you can use when applying at your bank.

Aggregated Bank Loan

If you don’t qualify for a personal bank loan, you can apply for an aggregated study loan through our financing partner, Student Hero. They make collective applications to banks, which lowers the requirements to receive a loan.

To apply, you must have a small but steady income, or if you are not earning yourself you can apply with a family member or sponsor who can prove a steady income. You or your sponsor must have a South African bank account and a South African ID. Your repayments can be as little as R1300 per month.

Student Applying

FAQ

What requirements must I meet to apply for a loan?

You or a sponsor must have a South African bank account and a steady income of at least R7500 per month to qualify for a loan. However, the higher the loan amount, the higher your income must be.

What is a sponsor?

A sponsor is a person who will be paying the loan instalments during your studies if you cannot pay them yourself. A sponsor can be your parent or anyone else who is willing to support you with the loan application.

What is the interest rate, and how is it determined?

The interest rate and the term offered for repayment of a study loan depend on the credit score and affordability. The interest rate is generally between prime (7%) and 17% (prime +10%).

Each funder has a unique qualifying criterion that mainly considers your or your sponsor’s credit score, amongst other factors.

How long is the repayment term, and when do I start repayments?

The term to repay a study loan can be up to 60 months.

You or your sponsor can choose to pay only the interest on the loan amount during the year of study.

For example: If you borrow R50 000, the 10% interest will amount to R5000 per year and will be payable in 12 monthly instalments. R 50 000 x 10% = R 5 000 /12months = ± R450 p/m during the year of study. You’ll have the loan’s term to repay the borrowed amount, plus interest, after the year of study. ± R 1300 p/m.

What if I need a loan for another year of studying?

You can re-apply for a loan for every following year of study.

The following year’s interest payment will be calculated on the total consolidated loan amount for the first and second years.

For example: If you borrow a further R50 000, the 10% interest will amount to R10 000 for year two, and will be payable in 12 monthly instalments. R50 000 + R 50 000 = R 100 000 x 10% = R 10 000 /12months = ± R900 p/m during the 2nd year of study.

Specific fees and charges may vary amongst credit providers and influence the exact calculations.

Please note: These numbers are only for illustration purposes.

What if I don't qualify for a traditional loan?

Student Hero also explores funding from alternate student funders. The alternate funding providers are more lenient with their qualifying criteria, but their loans do not have an interest-only period.

How long will it take for my alternative loan to be approved?

Once you have completed the form and sent us the required documents, it will take about 24 hours to give you the outcome of the pre-qualification.

If you or your sponsor qualifies and elects to apply for a study loan, we will send the complete application to a funding provider for consideration. Approved loans can take about 4-7 days to finalise, so please be swift when we request additional information from you.

What does the study loan cover?

A study loan can cover tuition fees (including registration fees), the cost of prescribed textbooks, and special equipment or gear you may need to study (for example, your laptop).

Full-time students who are not living with family can also include the cost of accommodation. To apply for accommodation funding, you will need to provide proof of the cost of the accommodation, in the form of a quotation from a real estate agent.

Transport costs and an allowance are not included in a study loan application.

Is a laptop covered by my study loan?

You can choose to finance any laptop up to a maximum of R20,000 as part of your loan. Let us know if you'd like to include this in your study loan quote to Student Hero, and we'll add the recommended laptop to your quote.

What type of laptop will I need?

Your laptop specs have to meet the following requirements:

  • An older i5 with 8GB RAM.
  • A newer i3 with 8GB RAM.
  • 1 Terabyte SSD or 500GB.

We recommend the ASUS X515 i5-1135G7 8gb 512gb 15.6 inch. We can assist you in submitting a quote for your laptop once you have started your registration.

Get in touch.

Chat to our admissions team! We’re here to answer all your questions and set you on the right track to success!