As part of the need-based financial aid program AUB started a loan program in September 2003 for medical students enrolled in the Faculty of Medicine. For three consecutive years, each year the program was extended to another faculty or school. Currently, in addtion to Medical students, all enrolled undergraduate students receiving financial aid benefit from this program starting their second year of enrollment.
The purpose of the loan program is to allow further financial support to students who find it difficult to complete their studies. The students would apply for financial aid as usual; however, if eligible, the students receive financial assistance as a package in the form of a grant from AUB and a loan from a bank chosen by the student while keeping the right for AUB to choose a different bank. Students cannot apply for the loan separately, it is a necessary condition for the student to receive a need-based grant in order to be considered for the loan. Participating students can take the loan during each year of study starting from the second year of enrollment. The student starts repaying the loan at a low interest rate over a maximum period of ten years following the a grace period of one year.