Saturday, 3 January 2015

Catch-22 of a student loan


The Student and I was at the bank this week to try to get a student loan...

What a joke! I could have said "process", but it really feels like baring your underpants, and then after the scrutiny you are left without that same said underpants!

It takes ages for the "process" to complete...
And then you don't have a guarantee they are going to approve the loan.

There were two bank employees going through all our documents, and we still did not have the "right" documents! All the university documents should have a date stamp of 2015, although The Student has a letter of approval for her post-graduate diploma. Apparently we also lacked some more documents from the university, which she would not be able to get at this time in the year...

The bank wants proof of registration from the university! Which we don't have!
(That's what we are trying to get at the bank: Registration fees!)
They will only pay the student loan as soon as the registration is done!

But: The University wants proof of payment of the registration fees!
Or else they wont register her!

A Catch-22!


We gave up on getting a student loan at the bank! It was a very degrading process!
It just does not make sense to try to get a student loan from them.

6 comments:

  1. Bank processes are crazy in all aspects. I hope you get a loan for her and that she can continue her studies.

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    1. Thanks Lynette! We got a loan from family! She will be able to continue her studies! "Phew!"

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  2. Try and find out if the actual university has financial help. Can she do it through Unisa? Cheaper? Ok that's all I can think of for now!

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  3. Sounds like Absa. They gave me such a run around in my second year that I eventually told them to stick it where the sun doesn't shine and walked out.

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    1. Not Absa, but same as... We won't be going back!

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