Absa Bank helps students finance their full tertiary experience from the tuition fees, accommodation, study books and technical equipment they need for their studies.
To qualify for the loan, you must be a South African citizen or person living in South Africa permanently and earn more than R3,000 a month.
The study loan can be taken out in the name of:
- A parent, who has proof of income.
- A sponsor or guardian, who has proof of income.
- A part-time student, who is full-time employed and has proof of income.
Applications for the student loan can be done in either of the following ways:
- At any Absa branch, where a consultant will assist you in completing the application.
- On the Absa student bureau.
- By calling Absa on 086 010 0372, a consultant will assist you telephonically.
Documents needed to complete application:
- A valid South African ID document or Smart card
- Proof of residential address such as a municipal or rates bill
- Your last three months’ payslips or bank statements
- Proof of study in the form of a final letter of acceptance or proof of registration
- Proof of course costs for the year of study (invoices/statements); for tuition fees, textbooks, accommodation for full-time students not living with parents or relatives and any other study related devices.
- For second and subsequent years of study, proof of the previous years’ academic results to ensure student is permitted to continue studies.
When repaying the loan students can opt to make capital and interest repayments or pay interest only for the first 12 months and only start repaying from month 13.
Should you have any further questions or queries you can visit the nearest Absa branch.
