Types of Financial Aid
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:
|
Bachelors |
Masters |
Authorized Global Loan amount |
180 000 DH |
100 000 DH |
Maximal Amount Released/Semester |
20 000 DH |
20 000 DH |
Maximal Loan Term |
14 years |
9 years + 6 months |
Studies Term |
4 years + 6 months |
2 years + 6 months |
Refunding Term |
8 years + 6 months |
6 years |
Grace Period |
12 months |
12 months |
Interest Rate during In-school Period |
7.5 % (Duty-Free) |
7.5 % (Duty-Free) |
Interest Rate during Refunding Period |
7.5 % (Duty-Free) |
7.5 % (Duty-Free) |
|
