AM
Atlarelang M

1 reviews | Active since Sept 2015

02 Sept 2015, 10:52

Forced Capital Repayments Of Student Loan

After graduating, I duly informed ABSA's Student Bureau that I was still continuing with my studies and that repayment of the interest on a student loan I had taken-out in 2013, would now be repaid using a different bank account. <br> <br> I submitted proof of my registration as a full-time postgraduate student at the University of Pretoria to a consultant Jerry Baloyi ***) and the first debit of R380 on June 1st went off as agreed upon.<br> <br> However, a debit of R1207 went off on July 1st, which constitutes the capital repayment of the loan. According to the loan agreement, while I am still a full-time student, I am allowed to pay only the interest portion of the loan, until I complete my studies in 2018. <br> <br> I called Mr Baloyi several times between July 1st--24th, to resolve the matter but he never got back to me despite promising to do so. On July 24th, I then went to his office and he assured me that he would change the debit instruction from capital to interest repayments. <br> <br> This was not to be as the capital repayment, now at R1218 went off again on Aug 31st.<br> <br> The little income I receive from my bursary is meant for my studies

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Replies (1)
Absa
Absa's reply02 Sept 2015, 14:32
Official
Hello Aghari,

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards

Daphne Le Grange

Group Customer Care

Absa Bank Ltd