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Highlights

Gone are the days when study loans were limited to just tuition fees

Absa Study Loans cover everything from your university fees to other essentials such as accommodation, chosen textbooks, and even study-related items like laptops

Absa allows you to pay interest only during your study period (up to 12 months)

How to Finance Your Tertiary Education with Absa Study Loans

Worried about how you’re going to afford your studies or support a loved one’s academic dreams? You’re not alone. For many, the cost of higher education can feel like an insurmountable hurdle. Thankfully, Absa’s Study Loans are here to help turn those dreams into reality.

This post is your complete guide to Absa Study Loans. You’ll learn about the features, benefits, and eligibility requirements, and how they can make financing tuition, accommodation, and study materials easier than you thought possible.

Why Consider a Study Loan?

A quality education is one of the best investments you can make in your future. However, the upfront costs like tuition fees, books, and living expenses can be daunting. A study loan bridges that financial gap, offering you peace of mind and the ability to focus on studying without financial worry.

Absa’s Study Loans are specifically designed to take care of your full education experience including tuition, accommodation, books, and even technical equipment.

What Makes Absa Study Loans Stand Out?

Absa’s Study Loans offer a range of standout features designed to meet the specific needs of students and their sponsors.

1. Covering the Complete Study Experience

Gone are the days when study loans were limited to just tuition fees. Absa Study Loans cover everything from your university fees to other essentials such as accommodation (for full-time students living away from home), chosen textbooks, and even study-related needs like laptops.

2. Competitive Interest Rates

At Absa, affordability is the goal. They offer low-interest rates designed to minimize financial strain. Plus, they promise to match or beat a lower rate if you find it elsewhere, giving you confidence in your investment.

3. Flexible Repayment Options

Absa allows you to pay interest only during your study period (up to 12 months). This means you only start repaying the capital from the 13th month onward, giving you breathing room while focusing on your studies.

4. Loan Top-Ups for Subsequent Years

If your studies span several years, you don’t need to reapply for a completely new loan every time. You can conveniently top up your existing loan each year, provided you have proof of progress and results from your previous year of study.

5. Accessibility for a Variety of Courses

No matter your path, Absa caters to a wide range of educational institutions and courses, from traditional universities and colleges to private institutions registered with a Sector Education and Training Authority (SETA) and online courses accredited by global education authorities.

6. Peace of Mind with Credit Protection

Life is unpredictable, but Absa ensures you’re covered. Their mandatory Credit Protection Plan steps in to cover your repayment obligations in the event of unforeseen circumstances such as disability, critical illness, or loss of income.

Who is Eligible for an Absa Study Loan?

General Eligibility Criteria

You must be a South African citizen or permanent resident.
You or your sponsor must have a monthly income of at least R3,000.
If the applicant is part-time employed, they must provide proof of full-time work alongside study plans.

Eligible Borrowers

An Absa Study Loan can be taken in the name of the following individuals, provided they meet the income requirements:

A parent or guardian (sponsor)
A part-time student who is employed
Any sponsor willing to finance the applicant’s education

Institutions Covered

Absa caters to students attending a variety of accredited institutions, including:

Universities and universities of technology
TVET (Technical and Vocational Education and Training) colleges
Private institutions registered with SETA/SAQA accreditation
Online study courses accredited by global educational regulatory authorities
Certified aviation training institutions

Step-by-Step Guide to Applying for an Absa Study Loan

Here’s how you can secure your Absa Study Loan in just a few steps:

1. Prepare Required Documents

To streamline your application, make sure you have the following documentation ready:

Valid South African ID or Smart Card
Proof of residential address (e.g., a utility bill)
Last three months’ payslips or bank statements (for the sponsor)
Proof of study (final letter of acceptance or registration)
A detailed list of study costs, including tuition fees, accommodation (if applicable), textbooks, and equipment
Grade results for ongoing students applying for a loan top-up

2. Choose a Payment Option

Decide whether you’d like to repay interest only during the first 12 months or include both capital and interest repayments from the beginning.

3. Apply via Your Preferred Channel

Absa makes it as convenient as possible to apply for your study loan. You can:

Visit a local Absa branch
Contact the Absa Student Bureau
Call 0860 100 372

4. Loan Approval

Once your documents are verified and your risk eligibility approved, Absa processes your loan. Funds are disbursed to cover all the academic costs.

Why An Absa Study Loan Could Be Perfect for You

Choosing Absa doesn’t just mean getting a financial boost for your studies. It means becoming part of a support system ready to help you achieve your educational goals while minimizing financial hurdles.

Here’s why students love Absa:

Personalized Assistance: Consultants are ready to guide you through the application process.
Custom Loan Terms: Flexible repayment plans tailored to your financial capacity.
Global Accreditation Support: Online study options ensure you’re not limited in your academic pursuits.

Your Education, Your Future

Investing in education is an investment in your future. With Absa Study Loans, you can focus on what truly matters, your studies and aspirations.

Whether you’re pursuing a degree, a vocational course, or a dream in aviation, Absa stands by your side to make it a reality.

Start planning your brighter future today. Visit your nearest Absa branch or call 0860 100 372 to explore your study loan options! Visit Absa website for more information.