Absa Student Loan – With the Absa student loan you don’t have to worry about how you are going to pay your tuition and buy all the textbooks you need. Getting an education is of the essence and Absa knows this. For this reason they give their customers the opportunity to take out student loans to finance their own studies or those of their loved ones.
Benefits of the Absa Student loan include the fact that customers pay the prime interest rate on their study loans. Customers are also offered 15% discount on study equipment when they apply for a study loan. Absa offers the study loan as part of a student package which includes a student credit card and a cheque account.
The Absa student loan can be used for both undergraduate and postgraduate qualifications. The duration of the course must be more than 2 months.
You can get a credit protection plan. This will protect both the student and the sponsor. It will pay any outstanding amount on the loan e event of death or disability.
Requirements To Qualify For Absa Student Loan
- The student must have passed matric
- Your last 3 months payslips or bank statements
- The student must be enrolled or in the process of enrolling at a university or recognized college. Either as a full-time or part-time student
- Proof of registration and quotation of study fees
- The course of study must be SETA or SAQA accredited
- Copy of ID for student
- Sponsor’s ID, Banking details and Proof of income
- Proof that sponsor or student earns a minimum of R3 000 a month
In terms of repayment of the Absa Student Loan, the student is expected to pay only the loan interest until graduation if the course is longer than 12 months. If course is less than 12 months, then the student will have to pay back both loan and interest in 12 months.
Absa Student Loan Contact Details
For more information and to apply for a Absa student loan you can either visit your nearest branch, call Absa on 0860100 372 or visit their website www.absa.co.za and complete the call me back form.