RV
Rudolf V

1 reviews | Active since Sept 2019

13 Sept 2019, 21:54

Horrifying experience regarding student loans

My mother and I took out a study loan in 2016 however I only studied one semester because I had to leave for employment abroad. My loan was for 36k but I only used +- 22k. I continued to pay the Absa loan as arranged. According to my knowledge the loan should have been close to completion. I asked my mother to enquire the balance for settlement and she was told it was 22k. I went to an Absa branch today to further investigate. The lady did not understand my query and continuously asked her co workers advice. She was then advised to call the absa offices. Upon speaking to a consultant she again asked questions I didn't ask. I stopped her again and clarified, I want to know what happened to the other 14k that's missing. She was advised to call the creditors. I had to wait an additional ten minutes for her to get a consultant to which she asked the consultant to explain to me what my balance is, like I'm the one who doesn't know what I want. I explained to the lady on the phone my situation. She was able to find the account and advised that the payments are for the starting amount of 36k. I explained that i did not use the full amount and need to know what happened to the rest of the money because 14k is unaccounted for. The lady on the phone said I need to print a statement, she then explained to the consultant in the branch to do so. And then we are told that for us to investigate the missing amount, we need to pay R65 for every month that is being drawn up. That is around 40 months ago. An estimate of R2600 just to tell me where the missing money is. The lady then continued to explain we need to enable online banking where it would be cheaper. We wait an additional 20 mintes for her to set that up, only for her to realise after activation that we are unable to see the student account. She then disappears behind her desk again for another ten minutes where she goes to ask her colleagues for advice, only to tell us that we cannot see the student loan. I then proceed to speak to the branch manager, who was perfectly polite throughout the conversation, however in my opinion this is absolutely ghastly to be charging this amount to locate missing money. She explains the same as the lady that it would cost R65 per month for the statement. She continued to explain that student loans would have paid out the full amount. I explained that this was not the case. I needed to email the bank with proof of what was necessary to be paid before they paid out and that was only 22k total. 14k is missing and I need to know where it is.

I just don't understand why nobody can access the student loan and tell me verbally what amount was paid on what day. Nobody takes this seriously at the branch that there is an amount of money missing that I am expected to pay back. Now I have to pay an estimate of R2600 to launch my own investigation because nobody else is willing to assist just by opening the student account and telling me where the money is.

This is absolutely rediculous and I am disgusted by the service I received today.

Please email me. Email address is in reference column.

0
Replies (1)
Absa
Absa's reply16 Sept 2019, 09:23
Official
Good day,
 
Thank you for bringing this matter to our attention. Please be advised that an email has been sent to you requesting information. Once received, we will investigate further.
 
Regards
   
Pravesh Bejay
Specialist Case Manager
Customer Value Management 

Best regards,