DEALING WITH NEDBANK STUDENT LOANS HAS BEEN A SICKENING EXPERIENCE

<p>I am feeling sick as I write this review. We app**** successfully in 2016 for a Student loan so that my son could start his studies for a Degree Interior Architecture. Tsepo Malgas assisted and this was a pleasant experience.</p> <p>November 2016 we started the application for an extension of this existing loan so that he could continue with his second year. This application was handled by another consultant and went nowhere. As we since moved to FNB for various reasons mainly due too poor service from Nedbank in other areas we were informed that as we are no longer Banking with Nedbank we do not qualify for the extension. Then we received a SMS from Nedbank Student Loans to contact them on 17.01.2016. I contacted them and spoke to Crystal Naude who was extremely helpful and advised me that since this is merely an extension of an existing loan this rule does not apply. We initiated the application process again but this turned into a process of frustration.</p> <p>Either the documents were not complete (although all required documents were handed in) or believe it or not someone decided that my son failed 5 modules which clearly was not the case on his result statement supp**** by the institute. I even got them to confirm this in writing. Which leaves me to wonder if they understand Result Statements at all. </p> <p>Now and this is new as this was not mentioned at any point during the first year application and does not reflect any ware on the Nedbank Website they indicate the requirement for us to surrender an Investment or policy with a surrender value equal to the loan or seed fixed property to guarantee this loan. This requirement I respect but this was never mentioned before and logically would I choose this option if I had an investment I would use this to pay for the studies myself instead of going through this embarrassing process that wasn’t explained to us from the start. Other banks just add insure to protect the loan should something happen.</p> <p>Nedbank are playing with emotions and peoples futures. They are clearly attempting to prevent my son from achieving this qualification We wanted to prevent my son from paying two separate student loans when he starts working but will now gladly continue the process somewhere else. </p> <p>And guess what Nedbank had the nerve to ask why my husband closed his account with them when he did. If this is how they do business I wonder why they are rated as one of the worst banks to deal with. This clearly reflects in the other reviews as well. I am sickened and very disappointed in Nedbank and guess my son who will become a professional at some point will not consider banking with Nedbank.</p>