Student Loan

I have been a Standard Bank customer since I had opened my first account in 2018. My mom has been a Standard Bank Customer for a longer period. On the 25/5/22 we had visited a Standard Bank branch to apply for a student loan. I had been unable to secure a bursary for my final year and desperately needed to find alternative funding. After applying, the consultant notified us that the loan was rejected due to missed payments on a home loan in the previous year. A motivation was sent through and we were told that we would receive an outcome in the next 48 hours. It has been four working days since and we have not received communication stating that the application was successful or not. My mom's vehicle finance could not be processed by Standard bank and she had received vehicle finance from Wesbank. I don't see the need to be a Standard Bank customer if we have to apply to other Banks for products.

Furthermore, I do not believe that anyone who receives high income and has never experienced financial difficulty will apply for a student loan. Standard has proven to be of no help to their customers if they are not above average!

As a previously happy Standard Bank customer I am absolutely dissatisfied and disappointed. I have now taken the time to open a bank account at another bank and I am currently working on a student loan application. I can safely say that we will not continue as Standard Bank customers.