Bank Loans

Loan Term and Amount

Bank loan is another form of financial aid that must be repaid. The loan recipient can benefit from a maximum of 20 000 DH/semester over 9 enrolling semesters for undergraduates and 5 semesters for graduates. This loan program provides students, even those with no financial need, with long term loans payable over a reasonably long period and with especially attractive interest rate (7.5%). This interest rate is the same rate applied to the in-school, grace and repayment periods. Repayment is made in the form of equal monthly installments and starts 12 months after the last bank receipt released to the order of AUI or after student's withdrawal from the University.

The student may apply for a bank loan at any semester; however the final decision is subject to the bank approval based on adequate supporting documentation.

For more details, please see the table below:

Applying for a Bank Loan

To apply for a bank loan, the student should fill in the Bank loan Application Form, provide all the required documents and submit them to the Financial Aid Office within the set deadline. At first, the Financial Aid Office makes a preliminary review for any missing document on the applicant's loan file and then communicates the said file to the Bank Loan Committee for final review.

The bank loan process is very delicate and it takes much time to take decisions through all cases. Any missing document or problem of the guarantee delays the smooth operation of the bank loan process.

Within the same framework, it is worth mentioning that the bank loan committee works in cooperation with the Financial Aid Office to satisfy all the parents' needs; but it is the primary responsibility of the bank to communicate the final decision to the loan applicant in question (approval or rejection) before the confirmation deposit period.

Any unused loan funds remaining in the student's account (after withdrawal, or completion of studies) will be returned to the bank and not to the student or to the individual responsible for making the loan payment.

Qualified applicants will receive an award notification by mail and/or e-mail with information about the amount of the loan offered even before their regular registration at AUI. Students whose loan application files are rejected are also notified via mail and/or e-mail.