The Absa Study Loan is open to South African citizens and permanent residents who earn more than R3 000 a month. The borrower can be the student, a parent, a sponsor or guardian, or a part-time student who works full-time and can show proof of income. See the Absa Study Loan page.
If you searched for an Absa student account, that is a different product: a free account for full-time students aged 18 to 27. It is covered under the FAQs below and on the Absa Student Account page.
Eligibility Requirements at a Glance
- You must be a South African citizen or live in South Africa permanently, and earn more than R3 000 a month
- The loan can be in the name of the student, a parent, a sponsor or guardian with proof of income, or a part-time student employed full-time with proof of income
- Study full-time or part-time at a university, university of technology, agricultural college, TVET college, SETA-registered or SAQA-accredited private institution, certain accredited online courses, or approved aviation training
- The course must be longer than two months
- The minimum loan is R15 000
The loan covers one year of tuition and related costs. You reapply each year.
Income and Affordability Requirements
Absa awards a study loan based on each customer’s risk and affordability. Customers with a transactional Absa account get the prime rate; customers without one get a personalised rate. Absa does not state a maximum loan amount on the page, so ask Absa what you can borrow.
Credit and Financial Requirements
Your credit record and existing debts form part of the risk and affordability assessment, and Absa does not publish a minimum score. You can choose to repay capital and interest, or pay interest only for 12 months and start repaying from month 13.
The loan can include:
- Prescribed textbooks
- Tuition fees, including registration
- Accommodation, for full-time students who do not live with family
- Computer equipment required for your studies
Documents and Verification Required
- A valid South African ID document or smart card
- Proof of residential address, such as a municipal or rates bill
- Your last three months’ payslips or bank statements
- Your final acceptance letter or proof of registration
- Proof of your course costs
- Second year onwards: your previous year’s results
How to Apply and Improve Approval Readiness
- Collect the documents above, including the institution’s proof of costs, before you apply
- Decide who the borrower will be. If it is a parent or sponsor, they must meet the income and residency rules and provide their own proof of income
- Apply for bursaries or NSFAS first where you qualify, so you borrow less
- Choose between full repayments and interest-only for the first 12 months, and ask Absa what each costs in total
- Diarise reapplication for every year of study
Start on the Absa Study Loan page. If you are declined, ask Absa for the reason in writing.
Frequently Asked Questions
What are the requirements for an Absa student loan?
A South African citizen or permanent resident earning more than R3 000 a month must be the borrower, and the study must be at an eligible institution for longer than two months. The minimum loan is R15 000 and it covers one year at a time.
What are the requirements for an Absa student account?
The Student Account has a R0 monthly fee. You must be a full-time undergraduate or postgraduate student (a qualification of one year or longer) at a recognised tertiary institution, aged 18 to 27. You need a valid SA ID or passport, proof of residence not older than three months, and proof of registration.
Can a parent take out the loan for me?
Yes. The loan can be in the name of a parent, or a sponsor or guardian who can show proof of income.
Can I borrow if I study part-time?
Yes. Full-time and part-time students at eligible institutions can qualify. A part-time student who is employed full-time can take the loan in their own name with proof of income.
Confirm current terms with Absa. See finance and funding requirements and browse all loan requirements.