What Are The Student Loan Requirements At Absa

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The Absa study loan is just one of the many available funding options for students who want to pursue tertiary studies. Nevertheless, just like any other loan option, there are requirements that need to be met in order to qualify for this loan option.

The Absa student loan is said to cover the student’s entire learning experience, covering all of the following costs: tuition fees, accommodation, study books and technical equipment.

They guarantee low interest rates for students to repay, and offer a repayment scheme that only begins after the 12th month of coverage has been completed.

To access these benefits, the student will first have to meet the bank’s student loan requirements, which are as follows:

  • Student must be a South African citizen or a permanent South African resident.
  • Student must be earning more than R3 000 per month
  • The loan can be taken out in the name of the parent or guardian of the student, or by a part-time student who is employed full-time, all with valid proof of income.

The student must be studying at one of the following institution types:

  • Any university, university of technology, agricultural college, or Technical Vocational Education and Training College (TVET)
  • Any registered private institution
  • Any internationally accredited online study courses with a South African borrower
  • Any approved aviation training program

Upon application, the student will have to reproduce the following documentation:

  • A South African ID
  • Proof of residence
  • Last three months’ bank statements
  • Proof of study
  • Proof of course costs
  • Proof of student’s previous year’s results if they are looking to re/apply in their second year of study and onwards

For further information, visit the Absa student loan page by clicking here.

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