An Absa Student Loan is what you need if you are looking for a way to pay for your tuition. With a good education you can be anything you want. Absa makes this possible by giving you an Absa Student Loan at the lowest rate. This loan will help you finance your tuition, textbooks, accommodation and study equipment fees. With all this taken care of all you will need to do is concentrate on your studies. An Absa student loan can be taken out by a student studying part-time or full-time. The student has to be studying at a university, university of technology, agricultural college or technical vocational education training college. Loans can be taken also for students at any private institution registered at a Sector Education and Training Authority (SETA) and accredited by the South African Qualifications Authority (SAQA).
When you apply for an Absa student loan approval is subject to affordability and risk assessment. You may take out your loan year by year where you only apply for a loan for the respective year of study. You get flexibility when it comes to repayment. You can opt to repay interest only for a period of 12 months, thereafter repayments will include capital and interest. The second option involves making capital and interest repayments as soon as your loan application is approved.
Some of the benefits of an Absa student loan include the best interest rates you get. Absa gives you a price guarantee that if you get a lower interest rate elsewhere they will better it. Another benefit is that you will get 15% discount on study related equipment you may need. You accommodation costs are also covered. The Credit Protection plan will protect both students and / or sponsors in the event of permanent disability, dread disease or death.
Requirements To Qualify For An Absa Student Loan
- A valid identity document
- Student or sponsor need to earn a minimum of R3 000 per month
- Proof of income from the person undertaking the student loan – Latest Payslip
- 3 months bank statements
- Proof of registration at recognized academic institution or final letter of acceptance
- Proof of course costs for the year of study
Application for an Absa student loan can be done at your nearest Absa branch or at a student bureau. Make sure you take the necessary supporting documents with you.
Absa Student Loan Contact Details
Website: www.absa.co.za
Telephone: 0860 100 372
E-mail: absa@absa.co.za