Most students get disturbed or end up quitting their studies due to shortage of supplies and tuition.
About – Absa
Every day we see more and more tertiary students organising themselves for demonstrations against what they call “very high fees”.
The issue might not be of very high fees, and the main thing is about affordability and lack of relevant finance schemes. Also, we will enable our students to learn without being impeded. These students represent the future leaders of South Africa and so the quality of leadership that South Africa will receive lies in their ability to get a quality education.
ABSA, as one of the largest financial institutions in South Africa, allows students to get their heads focused into classes and receive a quality education through student loans.
LEARN EASY WITH ABSA STUDENT LOANS
The ABSA student loans were designed to bring relief to South African students who fall short of their tuition and educational supplies. The course of their studies, the loans also cover bright students giving them an enhanced ability to excel in their education.
ABSA student loans will cover you or your child who is enrolled with a registered tertiary institution.
We make sure that we leave no financial responsibility for the learner enabling them to concentrate on their studies entirely. Absa will make you realise your educational dreams with a cheaper and easy to repay student loans. We give the best terms that beat everyone else.
HOW MUCH DOES ABSA STUDENT LOANS PROVIDE?
As a bank that cares for the well-being of South African students, we have made it our responsibility to cover students on the full costs of studies.
Our student loans come to settle your fees and any other expenses that the institution will be charging for your studies. With ABSA, there is no registered university or tertiary institution which is said to charge too much, and our funds will cover you for everything.
Whether you are studying and the University of Cape Town, Vits, Stellenbosch or Venda University. All you need to do is to meet the requirements, and we will have you covered.
WHAT DOES IT COST TO OBTAIN ABSA STUDENT LOANS?
Student loans are some of the cheapest amongst the group of personal loans issued by ABSA. Student loans have one of the lowest interest rates in the market as they are loans meant to facilitate social and economic development.
Developmental finance comes in the form of cheaper loans, and the idea is to achieve improvement in the educational sector and see our economy progressing smoothly.
Student loans will come with interest rates that are levied every year, and the interest rates usually vary depending on the credit rating of the applicant. The maximum rates at Absa for student loans will be 12% per annum.
HOW ARE THE ABSA STUDENT LOANS REPAID?
ABSA recognises that various students and or guardians have different abilities and needs; this is why we put our repayment on negotiation with the loan applicant. We need students to excel in their studies and need their mindset to shed off from thinking of the financial burden of fees.
Depending on the abilities and willingness of the loan holder, the bank gives two types of repayments. The first alternative is to repay the loan during the studies, and this can be done when the applicant is a guardian who has a regular income or a student who studies and work on part-time.
Students can opt to make repayments after the studies, and this option is available to full-time students and applicants who will be having low incomes. When applicants choose to make repayments after studies, they will be required to make repayments of interest and repay the principal amounts after the course of the studies.
The student applicants will be required to be South African residents who are enrolled with a registered tertiary institution, while guardian applicants should be South African permanent residents who have a regular income that is received through the bank.
During the application, the following documents will be required
- A South African national identity for the applicant
- Proof of residential address for the applicant
- Latest pay slip from the current employer
- A three months’ stamped bank statement
- A student identity card for the student who will be funded
- Proof of costs from the institution in the form of stamped invoices
HOW TO APPLY FOR ABSA STUDENT LOANS?
Similar to personal loans, the application of student loans can also be done online or through one of the ABSA branches that are spread countrywide.
The applications will need applicants to fill their details and submit copies of the documents required before waiting on their calls for the student’s loans.
In that way you or your child will have the best of education in South Africa.