Absa Bank Student Loans
In South Africa, about 20% of the total state expenditure goes to education. The government realises the value of education and spends millions of Rands every year as a way to improve the systems and produce better quality standards.
Despite the fact that skilled postgraduates are in high demand in South Africa, most people struggle to pay for their studies. Research has shown that individuals who get a higher education are more likely to experience job security and the ability to provide for their families. This is a goal of many South Africans.
Further research has revealed that student enrolments in South African higher education institutions increased by 23% from 2005 to 2013. These statistics indicate that more South Africans want to improve their standards of living and contribute to economic growth by furthering their studies.
Absa Bank Student Loans are ideal financial solutions for individuals who want to pay for their studies, but can’t afford to pay out of their own pockets.
What benefits are offered by Absa Bank Student Loans?
These loans finance SETA and SAQA courses, textbooks, accommodation and equipment fees.
Lending at competitive interest rates.
Customers get a 15% discount on study equipment
Absa Bank Student Loans form part of the Student Package, which includes a student credit card and a cheque account.
Access to a Credit Protection Plan.
A PC Package is offered, in partnership with Apple, Dell and HP. With this package, full-time students are able to get laptops, desktops, notebooks and tablets.
What are the qualifying criteria?
- Earn a minimum salary of R3000 per month
- Proof of income from the person undertaking the study loan
- Proof of study in the form of a final letter of acceptance
- 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.
For more information, call 0860 100 372
Visit www.absa.co.za
