Absa Scholarship FAQ's

Supporting access to quality education remains an important part of Absa’s strategy and demonstrates how we are an active force for good in everything we do.

Our employees are important to us. They are the cornerstone to the success of our business, and the way in which we live our purpose and values, and part of the Absa journey. We are committed to increasing access to tertiary education for young people, with a focus on providing access to quality tertiary education for students who would otherwise not be able to pursue and complete their studies due to being financially disadvantaged.

Successful recipients of the Scholarship programme at a Public University or Private Higher Education Institution (NQF 7 qualification), covers:

    ➢ Tuition Fees (Full or partial fees)
    ➢ Accommodation at a university, or a university approved residence, or private
    accommodation. The amount will be capped and be advised to employees (Full or partial fees)
    ➢ Prescribed textbooks and learning material (The minimum amount will be confirmed – Full or partial fees)
Once awarded, the scholarship will get paid directly to the successful recipient’s university account. Successful recipients will be responsible for the payment of all other fees, costs or expenses associated with their studies that are over and above the awarded scholarship amount. The primary objective of the scholarship programme is assisting as many successful existing recipients as possible while ensuring the sustainability of the Absa Scholarship Programme. The ambition for Absa is to support students with tuition fees, accommodation and learning materials. Should there be a change in the initial funding amount or funding components to be awarded, a final letter will be sent to you confirming the change and the final Scholarship amount to be awarded. Depending on budget, partial scholarships might be awarded and preference will be given to students who is studying a qualification in high demand and students with higher marks than the minimum qualification criteria of 55% average. It must be noted that no Scholarship is guaranteed for employees’ dependents.

The Scholarship Programme only covers undergraduate degrees from an accredited South African Public University, including accredited Private Higher Education institutions (private universities). All study fields are accepted by preference will be given to qualifications in high demand which will lead to employability. An average of 55% is the minimum required to apply for a scholarship, however preference will be given to students with higher marks.

Yes, recipients who are awarded a scholarship will also take part in our student support initiative, presented by a 3rd party service provider. The purpose of this is to assist the recipients settle, cope and learn in the university environment. We want to ensure that our scholarship recipients have the best possible support to enable them to make the most of the opportunity provided.

The scholarship is available to:

    ● Employees' children (permanently employed only – no Contractors)
    ● Employees' direct dependents that is primarily financially reliant on the employee
As part of the application process, employees will be asked to confirm that they agree to take on financial responsibility for their dependent. By doing so we are able to accommodate for specific family dynamics that our employees may find themselves in, whereby they are often financially responsible for family members who are not their children or direct dependents. The employee will complete an affidavit to accept financial responsibility for the student. Annually, current scholarship recipients need to re-apply for the Scholarship Programme, to ensure that the existing criteria are met.

No, the Scholarship Programme is only for employee’s children and/or direct dependents. Employees who wish to further their own studies should contact their learning representative in People Management.

The Absa Scholarship Forum (ASF) provides strategic guidance and oversight of the scholarship programme. The ASF is a cross-functional committee made of senior management representing different business areas in the bank. This helps to ensure that any decisions made by the committee are fair and unbiased.

Continuation of the scholarship for a subsequent year will be considered based on a review of academic performance and conduct at the end of the current academic year, in line with eligibility requirements. Individuals who fail a year will not be able to receive any further funding from the Scholarship Programme for the subsequent year of study. If they fail a subject/module, but is allowed by the university to continue with studies, the failed subject/module must be paid back. Recipients of the scholarship are entitled to receive funding for one undergraduate degree/national diploma. Individuals who change their course of study, will forfeit/lose any further funding from the Scholarship Programme.

No, the scholarship does not have to be paid back once the recipient has successfully completed their studies, provided that there are no breaches of contract.

➢ Ensure that the electronic application form is completed. Absa appointed a 3 rd party administrator who will assist Absa will all administration of the Absa Scholarship Programme.

➢ Applications with incomplete information and missing documentation will not be considered.

➢ No late applications will be accepted. The closing date of applications are communicated via Absa Internal Communication.