The Student Loan Program

This program for students is the first of its kind in Lebanon.  The purpose of the loan program is to support the existing financial aid program of AUB allowing further financial support to those students finding it difficult to complete their studies.

The student loan program started in September 2003 for medical students.  In 2004, the undergraduate students in the Faculty of Engineering and Architecture (second year and on) also benefited from this program, followed by nursing students in 2005.

The latest extension of the loan program was in 2006 for undergraduate business students, second year and on.  The students would apply for financial aid as usual, however, if eligible, the students would receive financial assistance as a package in the form of a grant from AUB and a loan from bank assigned by AUB.

The University is continuously studying the possibility of extending the loan program to other faculties.

The Loan Program Concept
 

The student loan program was designed to allow an increase in the overall financial assistance provided to students. These, however, will partially assume the responsibility of this aid by repaying the loan part after graduation.  The financial aid assessment of the student will be transformed into a financial aid package including an AUB grant and a Bank loan, such that students with low to average need will receive less grant but more loan, whereas students with high need will receive more grant but less loan.

The loan is subsidized by AUB during a student's years of study until graduation.  Accordingly, AUB will pay the interest of the loan relieving the students and their parents from this financial burden during these critical years until graduation.  The students can take the loan during each of their years of study as determined above. The annual loan amount will range between 5% and 30% of the annual tuition fee.  The total amount of the loan will depend on the eventual repayment ability of the student (parents) as judged by the bank.  Students will not start repaying the loan until after graduation and repayment will extend over a period of 4 to 6 years, depending on their course of study.