Applying for Financial Aid

BANK LOAN Procedure

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 documents on the applicant’s loan file and then communicates the said files to the Student’s Bank Loan Committee for final review. 

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

In this framework, it’s also worthy to mention that the bank loan committee works in cooperation with the Financial Aid Office to satisfy all the parents’ needs; but it’s the primary responsibility of the bank to communicate the final decision to the loan applicant in question (approved or rejected) which is scheduled 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 payments.

Qualified applicants will receive an award notification by mail and 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 e-mail.