Loan Decisions


The educational loan decision is made by the bank yearly based on the student’s application and documents submitted.  The decision will be approved, rejected, in process, or incomplete.  

A loan is rejected mostly if the guarantor does not satisfy the bank’s requirement for loan eligibility as per bank’s applied policies.  The student may then have the option to find another guarantor and repeat the process as per regular procedures.

A loan is considered in process when all required documents have been submitted and while it is still under review in the bank.

A loan is flagged as incomplete if the student did not complete all the required steps and did not submit all the required documents.  In this case the loan will be cancelled 2 weeks following the bank’s feedback if the student does not rectify the situation.

When the loan is approved, the bank shall contact the students to notify them of its decision and ask them to visit the bank with their guarantors to open an account​ (only for the first year) and sign the educational loan contract each year until graduation. The Bank shall contract a free of charge life insurance policy for each student, upon the signature of the educational loan contract.​