Monthly loans for Namibian students funded by NSFAF.

1. Apply for a loan: Students can apply for a loan from Credent through our online platform or by visiting our offices. To apply, students need to provide some mandatory documents such as a certified ID, proof of registration at a recognized tertiary education institution in Namibia, funding agreement with NSFAF, and a clear bank statement, either pdf or png/jpeg (Bank Windhoek Student account). Students can apply for a loan ranging from 1% – 100% of the refund expected, depending on the monthly refund received or over the months the loan is repayable. 

2. Verification and approval process: Once the application is received, Credent verifies the authenticity and affordability of the documents provided. After successful verification, Credent approves the loan amount to be serviced.

3. Signing the loan agreement: After approval, the student and Credent sign a loan agreement that outlines all the terms and conditions, including the amount loaned, interest charged, repayment terms, personal information, and more (usually, all signatures are done online). Students must sign a debit order form authorizing the direct debit of their bank account with the principal and interest charged.

4. Disbursement of the loan: Once the loan agreement is signed, Credent disburses the loan money into the registered student account of the banking institution where the refund will be paid into.

5. Repayment: The loan amount and interest charged on the loans advanced to the students will be deducted from their bank account once the refund money has been paid into their accounts by NSFAF. Students can borrow money to be repaid monthly for a period not exceeding five (5) months.