ABSA Student Loan South Africa
ABOUT THE ABSA STUDY LOAN
ABSA study loans can be used to cover the cost of tuition, textbooks, study equipment and accommodation. Additionally, you will receive a max discount of 15% on your study equipment.
Please note that students must reapply for a student loan each year.
ABSA guarantees that they offer the best interest rates on student loans – if you receive a lower interest rate from another financial institution, they will better it. To find out more, download and read the following documents: How it works (pdf), Terms and Conditions (pdf), Claim form (pdf).
PAYING BACK THE STUDY LOAN
There are 2 options to paying off the loan:
1) You can choose to pay back the interest as well as the capital as soon as you start studying
2) You can choose to pay back the interest only for 12 months, and the capital and remaining interest after the 12 months.
Applicants must satisfy the following minimum entry criteria before applying:
- Full-time or part-time student
- Studying at one of the following institutions: University, University of Technology, Technical Vocational Education Training College (TVET), Agricultural College, Sector Education and Training Authority (SETA) registered institution
- Student or their sponsor must earn at least R3000/month
HOW TO APPLY
The best way to apply is by visiting your nearest Absa branch
Alternatively, you can apply at your institution’s student bureau.
You will be required to have the following supporting documentation on hand for your application:
- Identity Document
- Parents/ Guardians Identify Document (minors only)
- Proof of tertiary registraion or acceptance
- Proof of study expenses (tuition, accommodation, books etc)
- Student or sponsors latest payslip
If you have any further questions which were not covered on this page, you can call 0860 100 372 to speak to a friendly Absa consultant.