VM
Vanessa M

1 reviews | Active since Dec 2018

27 Oct 2021, 10:04

Student loan Repayment Issues

took out a student loan in February 2015 of which the loan amount was about R71 000 that was made up of books, accommodation and study fees. My surety, who is my mother, started paying the inerest of about R900 per month in April 2015. She stopped paying the interest in September 2018 when I started paying the capital amount as per the contract.

I went to the Boulders branch in September 2018 to make payment arrangements on the account and I started paying my student loan in October 2018 through a debit order of R2101 per month. This repayment was for 3 years and should have ended in September 2021.

My account was debited on the 25th of October 2021 with the amount of R2101.

I sent an email to the student loan department as I could not get through the standard bank lines the whole day. They responded to me saying that I still owe R22 000 on my student loan. I do not understand where this amount is coming from as I have paid close to R75 600 in the past 3 years of which it is the capital amount of R71 000 and the interest.

If I still owe R22 000 on the account, what is this amount made of because this takes the total amount paid to about R97 600 and it does not make sense according to the amortisation schedule.

I also requested for a copy of the full statement of my student loan account but I have not been assisted with that as well.

0
Replies (2)
Standard Bank
Standard Bank's reply27 Oct 2021, 13:49
Official
Dear Vanessa M

Thank you for posting your comment.  We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.  We apologize for the inconvenience and undue frustration, this has caused.   We greatly appreciate your continued support   Kind regards, Complaint Resolution Centre
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VM
Vanessa M's update28 Oct 2021, 12:02
Reviewer Update
I still have not been assisted and have called the line multiple times.