So many students in South Africa have no idea how to pay for their studies. Yes, indeed education is the key – and in some instances, we can do it on our own, but unfortunately, some professions require one to go to school, college, and or university to acquire a certificate as proof that indeed you have studied.
A certificate should only be the one to open doors and every knowledge from your studies should be in your head, and yet do not limit your mind, because you are capable.
If you are struggling and/or trying to figure out how to pay for your studies, well, Absa has just a solution for you.
iRead: Absa Student Study Loan
It could be you directly seeking financial aid for your studies or trying to help someone out – perhaps your cousin, sister, brother, could be your neighbor – Absa offers low interest rates to benefit from study funding. Yes – it is a loan, and loans have interest rates – that’s one thing to bear in mind – however, Absa promises a low-interest rate because education is very important and they value it.
We are not endorsed by any financial institution, and all we write is what we know. With Absa, you can cover your tuition fees, accommodation, study book, and technical equipment you need for your studies.
Absa promises that, get this, if you can a lower interest rate elsewhere they will beat it (More on that here: https://www.absa.co.za/content/dam/south-africa/absa/pdf/personal-loans/how-it-works.pdf).
With Absa, you will only pay interest for the first 12 months and only start repaying from month 13th month. This gives you enough chance to make ends meet.
Yes, there is a qualifying criteria which has to be followed.
To qualify for the Absa Student loan, you have to be a South African, or living in South Africa permanently, earning more than R3 000. You can apply for yourself, or as a parent, sponsor, guardian, part-time student, or full-time employed individual with proof of income.
To fully Qualify for the loan you have to be in the following institutions: (list quoted)
⦁ University, University of technology, agricultural college, technical vocational education, and training college (TVET)
⦁ Any private study institution registered at a Sector Education and Training Authority (SETA) and accredited by the South African Qualifications Authority (SAQA)
⦁ Online study courses accredited by the United States Department of Education or the UK Government of Higher Education Quality Assurance Agency (QAA). The borrower is required to be based in South Africa.
⦁ Aviation training from an approved training organization (ATO) has been approved by SA Civil Aviation Authority (SACAA).
Documents needed to apply
You will have to provide:
- South African ID Document or a Smart card
- Proof of resident
- Latest 3 months’ bank statement or payslip
- Letter of acceptance or registration at one of the institutions mentioned above
- Proof of tuition fees, accommodation, textbooks, and study-related technological devices
- Should you be applying as a postgraduate, your previous academic results will be needed as proof.
For more information you can go to the nearest Absa branch or call 0860 100 372 or visit the Absa Student bureau.
For further clarity visit: https://www.absa.co.za/personal/loans/for-my-studies/explore/#accordion-content-1618439192-0