The Absa study loan is tailor-made for those looking at getting into or already enrolled in universities, private colleges or even FET college. The Absa study loan assists many to meet pressing study related expenses such as tuition fees, textbook bills, transport costs etc. This loan can be obtained by the guardian or sponsor and its only supposed to be paid back upon completion of studies. It also carries a grace period for those students who have to complete a period of community service or internship after graduation.
To qualify for the Absa study loan, one must be a South African citizen or permanent resident, successfully passed matric, the course to be undertaken must be SAQA or SETA accredited, if the course is more than 12 months long, only interest on the loan will be paid until graduation time when full amount becomes due, if the course is less than 12 months, you will need to pay the loan and interest back within 12 months.
There are also other pieces required through the process such as proof of registration and study fees quote, identity documentation, previous academic results and detailed breakdown of textbook costs. By virtue of the fact that this loan is taken out in the name of the sponsor, the sponsor must provide proof of earnings in form of latest payslip, identity documentation, banking details, marriage or divorce documentation if the sponsor is or was married.
The Absa study loan is indeed a credit facility setting its own pace in assisting students. To access this credit facility, Absa can be contacted on 0860100372.