Paying for your children's schooling in Namibia without heavy debt

Free public primary and secondary education

Public primary education has been free since 2013 and public secondary education since 2016. The former compulsory parental contributions were abolished, which reduced the need for credit among families whose children attend schools in the public system.

A January school start right after the holidays

The Namibian school year begins in January, just after year-end spending and trips back to home regions. This calendar explains the peak in microloan and salary advance requests seen at the start of every year in Windhoek.

Uniforms required by each Namibian school

Every school requires its own uniform, often sold by only a few approved suppliers in town. For a family with three children, uniforms, black shoes, school bags and stationery lists add up to a significant outlay in Namibian dollars.

Boarding schools and school hostels

In rural areas of Kunene, Omaheke or Kavango, many pupils live in hostels because there is no secondary school nearby. Accommodation and meal costs remain the family's responsibility, with amounts that vary from one school to another.

Private schools in Windhoek and Swakopmund

Private and international schools charge high termly or annual fees, sometimes raised each year. They often offer interest-free monthly payment plans, which work out better than a loan provided the payment dates are strictly respected.

Bank loans to cover school fees

An employed parent can fund a year of private schooling with a personal bank loan linked to the 10.25% prime rate. Since the amount is known in advance, a short term matching the school year keeps the interest paid down.

January microloans: proceed with caution

Many parents borrow from microlenders to buy uniforms and stationery. The rules and abuses to avoid are set out on the page about Namibian microcredit, because a rolled-over payday loan can cost far more than the original expense.

Education savings policies supervised by NAMFISA

Insurance companies supervised by NAMFISA sell savings policies designed for children's education. They require contributions over several years and carry fees, which should be compared with a simple fixed-term savings account at a bank.

NSSC exams and extra tuition

Pupils preparing for the Namibia Senior Secondary Certificate exams sometimes take private lessons or paid revision sessions. These one-off expenses are better covered by savings than by high-cost credit taken out at the last minute.

Computers and devices for pupils

Some private schools require a tablet or laptop. Buying on store credit may look convenient, but the interest and insurance charges should be compared with the cash price before signing any agreement in a shop.

After secondary school: paying for university

Tuition fees for first-time students at public higher education institutions are now subsidised, but accommodation and meals are not. The guide to the student loan in Namibia explains the role of the NSFAF and employer bursaries.

Benchmarks for the family education budget

Preparing for the new school year by saving every month from July avoids most January borrowing for Namibian families. The page on credit in Namibia lets you compare the available options if a loan is still needed.

Planning how to fund the school year in Namibia

1. List all costs from October: uniforms, stationery, hostel, transport and private school fees.
2. Ask the private school for an interest-free monthly payment plan before looking for credit.
3. Open a dedicated savings account and pay in a fixed amount every month of the previous year.
4. If a loan is needed, compare a short bank loan with a microloan on total cost in NAD.
5. Check that any microlender you approach is registered with NAMFISA before signing.

School costs and financing options in Namibia

Useful documents for funding schooling in Namibia

• Parent's Namibian ID card
• School invoice or fee statement
• Recent payslips
• Three months of bank statements
• Child's birth certificate for certain bursaries

Budget traps at the start of the Namibian school year

• Borrowing from a microlender in January, then rolling the loan over every month until the end of the first term.
• Signing store credit for a school tablet without comparing the total cost with the cash price.
• Falling behind on a private school payment plan, which may lead the school to refuse re-enrolment the following year.
• Responding to a school loan offer on Facebook that asks for processing fees paid by e-wallet.
• Leaving hostel fees out of the budget because the public school itself is free.

Lenders to contact

• FNB Namibia: Namibian commercial bank offering individuals personal loans as well as home loans to finance the purchase of residential property.
• Bank Windhoek: Namibian commercial bank active in consumer lending, notably home loans and vehicle financing, with an online vehicle finance calculator for customers.
• Letshego Namibia: Namibian subsidiary of the Letshego group, an inclusive financial services provider specialising in loans to individuals and micro-enterprises.
• Agribank of Namibia: Namibian state-owned agricultural bank granting loans to farmers and agricultural projects through a range of dedicated financing products.

Namibian parents' questions about school costs