Absa Student Loan

An Absa Student Loan gives you access to hassle-free financing for your studies. This way you can concentrate on your education and studies without worrying about huge monthly bills. Read on to find out more about a study loan from Absa.

1. Who can apply for an Absa Student Loan?

A study loan from Absa can be opened in the name of the:

  • Parent who has proof of income.
  • Guardian or Sponsor who has proof of income.

2. How do I qualify for an Absa Student Loan?

  • The student must be either a South African citizen or be permanently living in South Africa.
  • The student must be enrolled or in the process of enrolling as a full-time or part-time student at a University, University of Technology, Private College or FET College.
  • If the student is in their second or subsequent years of study, they must have successfully completed the previous year of study.
  • Only students who have successfully completed their Grade Twelve studies will be considered for a study loan.
  • The student must have a letter of acceptance from any of the following institutions:
    • University
    • University of Technology
    • Agricultural College
    • Further Education and Training (FET) College
    • Private Study institution registered at a Sector Education and Training Authority (SETA)

To find out if the Private College is SAQA accredited, visit their website on www.saqa.org.za.

3. How do I apply for a Student Loan from Absa?

3.1 Visit one of our Student Bureaus or any Absa branch.

3.2 Students must provide the following documentation:

  • Proof of registration
  • A quote from the institution for study fees and a detailed account of all textbooks and relevant costs is required.
  • Green bar-coded Identity Document
  • Results of the previous academic year. Proof of current residential address, e.g. electricity or cellphone statement, etc.
  • Please note - a student loan is taken out in the name of the sponsor and therefore the sponsor will be required to provide the information listed in the sponsor section.

3.3. Sponsors must provide the following documentation:

  • Proof of earnings or latest payslip
  • Green bar-coded Identity Document
  • Proof of current residential address, e.g. electricity or cell phone statement, etc.
  • Banking details (name of bank, account number, branch code and 6 months’ bank statements if non-Absa client).
  • If the sponsor is married in Community of Property their spouse’s details are required, if not, an Anti Nuptial Contract or a copy of Divorce Decree is required.

4. How do I repay my Student Loan?

While you are studying, only the interest on your study loan is payable and you only have to repay the capital once you have completed your studies.

5. What if I cannot repay my Student Loan immediately after completing my studies? I might have to do community service...

Absa does allow for a grace period from paying your study loan; while you complete your community service.

For more information on a Student Loan to help finance your education, speak to one of our Student Banking Solutions consultants at your nearest Student Bureau, visit your nearest Absa Branch or contact us on 0860 100 372.

Article Category

Other Articles

Feenix is an online fundraising platform which allows students to fund their studies. Keep reading to find out how their funding works. 

Are you interested in studying at False Bay TVET College and wondering if NSFAS covers their courses? Well, keep reading to find out more...

The National Student Financial Aid Scheme, better known as NSFAS, operates as a public institution that funds public university and college students who come from low-income households. If you are curious as to whether NSFAS funding covers Regent Business School fees, read further.

Did you not pass or complete your matric? Now you have the opportunity to do so. College SA now offers the Amended Senior Certificate programme. The Amended Senior Certificate is the equivalent to the National Senior Certificate (NSC) also known as matric.

Are you interested in getting your matric certificate? Regardless of your age, getting your matric as an adult doesn’t have to be a long, difficult process. Skills Academy Adult Matric Courses aim to help you achieve your study goals.