Standard Bank
Ridiculous decision on student loan application

My nephew has applied for a student loan for R103 000 and we have just been told that due to the fact that he has not had a loan with Standard Bank from the beginning of his studies he only qualifies for R83 000.00. He is in his final (7th) year of a Bachelor of Veterinary Science degree at Onderstepoort, and he has never failed a subject.

He applied for a student loan last year, and we went through a similar performance with Standard Bank until we contacted HelloPeter. We have tried to contact the student loans department, the customer relations department, our local branch, all without success.

It is ridiculous that a fixed fee from the university, with no additional expenses, is not covered by Standard Bank. Why will they not give a loan for the full amount? Would they prefer us to go to another bank for the loan? How do they expect us to find the rest of the money?

Both my nephew and I have accounts with Standard Bank and have always supported them where possible, but now the only option seems to be to apply to another bank. My experience thus far with the student loans means I have to advise others to go to another more helpful bank.

Company: Standard Bank
Country: South Africa
City: Student Loans

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