Absa Student Loan South Africa 2025

Absa Group Limited is a leading financial services group in Africa, offering a comprehensive range of personal and business banking products and services.

Their commitment to education is evident through the Absa Student Loan, which provides students with access to affordable funding for their studies.

About Absa Student Loan

The Absa Student Loan is a loan product specifically designed to assist South African students pursuing undergraduate and postgraduate degrees.

It offers competitive interest rates, with Absa even guaranteeing to beat any lower interest rate offered elsewhere.

The loan can be used to cover various expenses associated with your tertiary education, including tuition fees, registration costs, textbooks, accommodation (for full-time students living away from home), and essential study equipment.

The Absa Student Loan can be used to finance studies at a variety of recognized institutions, including:

  1. Universities
  2. Universities of Technology
  3. Technical Vocational Education and Training Colleges (TVET)
  4. Agricultural Colleges
  5. Aviation training institutes approved by the South African Civil Aviation Authority (SACAA)
  6. Private institutions registered with a Sector Education and Training Authority (SETA) and accredited by the South African Qualifications Authority (SAQA)
  7. Online study courses accredited by the United States Department of Education or the UK Government of Higher Education Quality Assurance Agency (QAA) (for South African residents only)  

Absa offers flexible repayment options for student loans.

Borrowers are only required to pay interest for the first 12 months of the loan, with repayments commencing from the 13th month.

Additionally, Absa provides the option to:

  1. Make full or partial capital repayments.
  2. Continue paying interest only for an additional 12 months upon “topping up” an existing loan.

It is mandatory for all student loan applicants to take out a credit protection plan.

This plan, offered by Absa, safeguards you against unforeseen circumstances such as disability, death, critical illness, or retrenchment, ensuring your loan repayments are covered.

Absa Student Loan Eligibility Criteria

To qualify for an Absa Student Loan, you must meet the following minimum requirements:

  1. Be a South African citizen or permanent resident.
  2. Earn a minimum monthly income of R3,000 (applicable to the parent, guardian, sponsor, or student depending on who the loan is registered under).
  3. Be enrolled as an undergraduate or postgraduate student.
  4. Be pursuing full-time or part-time studies.
  5. Be registered at a recognized institution (see the full list below).
  6. Be enrolled in a course exceeding two months in duration.

Absa Student Loan Required Documents

Along with your completed application form, you will need to submit clear copies of the following supporting documents:

  1. South African ID document or Smart Card.
  2. Proof of income for the past three months (payslips or bank statements).
  3. Proof of residential address (rates account, municipal bill, or lease agreement).
  4. Proof of enrollment (acceptance letter or registration confirmation).
  5. Previous year’s academic results (applicable to applications for second or subsequent years of study).
  6. Invoices or statements detailing your course costs for the year (including tuition, accommodation, textbooks, and study-related equipment).

How to Apply

You can apply for the Absa Student Loan in three convenient ways:

  1. Visit any Absa branch (find a branch near you: https://www.absa.co.za/find-us/)
  2. Apply through the Absa student bureau.
  3. Call Absa on 086 010 0372.

The Absa Student Loan only covers one year of tuition fees at a time. Students must re-apply for funding for subsequent years of study.

How to Contact Absa Student Loan

For further inquiries or assistance with your application, you can contact Absa through the following channels:

  1. Visit an Absa branch.
  2. Call Absa on 086 010 0372.

Closing Date

Absa does not advertise a specific closing date for student loan applications.

It is recommended that you apply as early as possible in the academic year to ensure your application is processed in time for the upcoming semester.