Absa South Africa Student Loan 2024/2025 | Eligibility/Requirements, Absa South Africa Student Loan Application form 2024/2025 and How to Apply.
If you are searching for information about Absa South Africa Student Loan 2024/2025, Absa South Africa Student Loan Application form 2024/2025, Absa South Africa Student Loan Online Application 2024/2025, Absa South Africa Student Loan Requirements/Eligibility, How to apply for Absa South Africa Student Loan 2024/2025, Absa South Africa Student Loan Opening Dates 2024 & Absa South Africa Closing Date/Deadline 2024, then you are welcome to this page. On this page, you will find answers to what you are searching for and how to Apply for Absa South Africa Student Loan 2024/2025.
About Absa South Africa
Absa Bank, a wholly owned subsidiary of the Absa Group, offers a range of retail, business, wealth management, corporate, and investment solutions to customers and clients across South Africa. Our ambition is to sustainably create shared value and play an integral role in our customers’ and clients’ life journeys, empowering them to achieve more and to recommend us to family, friends, and business associates.Absa is a truly African brand, inspired by the people we serve and determined to be always brave, passionate, and ready so that we can make Africa proud.
Absa Group Limited is listed on the JSE and is one of Africa’s largest diversified financial services groups with a presence in 15 countries across the African continent, as well as offices in the United Kingdom and the United States.
The Group have banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda, and Zambia, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia. We also have representative offices in Namibia, Nigeria, and the United States, securities entities in the United Kingdom and the United States, as well as a specialized IT office in the Czech Republic
Absa South Africa Student Loan
Finance your full tertiary experience from the tuition fees, accommodation, study books, and technical equipment you need for your studies and it comes with a lower interest rate.
What you need to apply
- 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
- Accommodation for full-time students not living with parents or relatives
- Textbooks
- Study-related technological devices
- For second and subsequent years of study, proof of the previous years’ academic results to ensure student is permitted to continue studies.
How to Apply
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 loan can be 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
An Absa Study Loan can be taken out by a student studying full-time or part-time at any of the following institutions:
- University, university of technology, agricultural college, technical vocational education and training college (TVET)
- Any private study institution registered at a Sector Education and Training Authority (SETA) and accredited by the South African Qualifications Authority (SAQA)
- Online study courses are accredited by the United States Department of Education or the UK Government of Higher Education Quality Assurance Agency (QAA). The borrower is required to be based in South Africa.
- Aviation training from an approved training organization (ATO) which has been approved by SA Civil Aviation Authority (SACAA)
Where can I apply?
- You can apply at any Absa branch; or
- Absa Student bureau; or
- Call us on 0860 100 372.
How do I pay it off?
- You can opt to make capital and interest repayments or;
- You can repay interest only for a period of 12 months.
When topping up an existing study loan, you may repay interest only for a further 12 months.
Get a Credit Protection Plan
- Be prepared for the unexpected and have peace of mind knowing that you are covered. The Absa Credit Protection Plan will cover you in the event of death, disability, critical illness, terminal illness, or loss of income. Credit life insurance is mandatory for all study loans.
Can I borrow the full amount to cover my study costs?
Yes, a study loan can be taken out for each year of study.
- We finance both undergraduate and postgraduate qualifications – the duration of the course must be more than two months
- You can apply for a minimum amount of R15 000
- The study loan will only cover one year’s tuition fees and associated costs. You will need to re-apply the following year if you proceed with your studies
- A study loan is awarded based on each customer’s risk and affordability
- You may include the following with your loan:
- Prescribed textbooks
- Tuition fees including your registration
- Accommodation (Only full-time students who are not living with family)
- Computer equipment required for your studies
If you are unable to apply at the moment, please, bookmark this page and check back and we will be glad to bring you update when the student loan application form is out.