The costs of furthering studies have risen rapidly over the years. Students all over the country are faced with the challenge of finding ways to pay hefty tertiary costs. Fortunately, people no longer have to resort to the services offered by unscrupulous lenders like loan sharks. Help is available from traditional lenders like Absa Bank.
Offering a range of solutions within the financial sector, Absa has a definitive footprint in the South African market. One of its leading product offerings is the Absa Student Loan. This package is offered to individuals studying at institutions approved by SAQA as well as SETA.
Offered at 9 Student Bureaus at South Africa’s leading tertiary institutions, the loans are awarded based on affordability and risk.
What the loan covers:
Absa Student Loans cover the costs of tuition, study material, accommodation and any other study related costs. As an Absa client, you are also offered a 15% discount on study equipment. Additionally, a PC Package is offered which includes Apple, Dell and HP laptops, desktops, notebooks and tablets.
What is required for application?
The loan is taken out in the name of the sponsor or guardian. Proof of registration will also be required, along with proof of study fees or the study material quotation.
The student’s I.D. copy as well as that of the sponsor must be provided.
The sponsor will also be required to furnish proof of their latest payslip, banking details and marriage certificate if applicable.
Absa understands how much of a challenge it is for students to complete their studies and find ways of repaying their study loan. For this reason, and the fact that Absa believes in investing in education, borrowers are only expected to pay back the interest portion of the loan during the term of the studies. Thereafter, they are expected to repay the capital portion. A grace period is provided after completion of studies, for students who may have to complete internships or find a job.
Contact Absa by calling: 0860 100 372 or visit www.absa.co.za.