Education is the investment a generation makes in the future.It has been proven many times before that education helps individuals develop to their full potential and learning is the most powerful tool in the world.Tertiary education in particular has the power to unlock tremendous opportunities in an individual’s life. It is from this important background that South Africa’s premier banking institution Absa has decided to offer study loans.
The Absa study loan is a credit facility which has been tailored to financially assist students who are enrolled, in the process of enrolling as a full-time or part-time student at a University, University of Technology, Private College or FET College.This facility can be initiated by the guardian or sponsor of student in question.
This loan can be used to pay for study fees, textbook bills and related costs.The borrower in this instance pays only the interest due on the loan, for the year in which the finance has been taken up. If finance is not taken up for the subsequent year of study, the loan must be paid back from that year onwards. Where finance is taken up for every year of study, the loan must be paid back upon completion of studies over a period not exceeding the time it took to complete studies.
To apply for the Absa study loan, one needs to have proof of registration and studies fees quote, identity documentation, previous academic results and a detailed breakdown of textbook costs. Because sponsors take out this loan, applicant sponsors must provide proof of earnings in form of payslip, identity documentation, banking details and divorce or marriage documentation if sponsor is married or was married.
To access this loan, Absa can be contacted on 0860100372.