A few weeks prior to the scheduled day of graduation of each semester (January, May, and September), the Office sends to the assigned bank a list of the students expected to graduate.
The Office also sends an email to the students whose names are on this list, requesting them to go to the assigned bank, within a specified period of time, for the final loan procedure including the execution of the final schedule of repayment.
The final loan procedure involves the student and his/her guarantor with two options:
- Sign for a student loan under the terms of the Central Bank of Lebanon with the reviewed interest rate for 10 years or less and repayment starts after a one year grace period, Or
- Fully settle the educational loan with no penalty.
Regular file fees and cost of stamps will apply when converting to a post-graduation loan. Documents will be also required, similar to the ones submitted during the first phase of the loan application..
Once the loan procedure is finalized at the bank, the student is cleared by the bank by sending an email to the Office.
Once AUB obtains a clearance from the bank, the student's record will be cleared at AUB as well and the student will be able to receive the degree.
AUB shall, for each student, not deliver his/her university degree, prior to receiving a letter/email from the bank confirming the opening of a marginal account by the student or the execution of a final schedule of repayment, as applicable.