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Cameroon - Guidance To Apply Student Loan

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Contents

Introduction

As a matter of fact, availing Education Loans is a very apt option for students who want to study in tertiary institute in Cameroon. Many private banks and government agencies provide students with suitable Loans in Cameroon.

Most students rely on a variety of funding sources to pay for college. Personal savings and family contributions are one of the first places students turn, but often these resources don’t cover higher- education costs.

it's important to plan in advance so that when it comes time to apply, you'll be ready.student loans and study abroad loans in Cameroon have an approval process where the lender evaluate your financial ability to pay and the likelihood that they will get paid back the principal plus a small interest after graduation.

When it comes to students, whether from Cameroon or outside Cameroon, the financial history can be quite limited – or nonexistent. This makes it tough for lenders to evaluate the borrower's ability to pay. To resolve this issue, all students and mostly need students interested in applying for a student loan need a surety to be accepted.

Eligibility

i)student must come from poor homes with less income annually.
ii)Student must have secured admission to any university, polytechnic, college of education.
iii)payment for student loan Must be after graduation.
iv)Applicants must be Cameroonian students seeking to pursue higher education in an accredited institution of higher learning.

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Instructions

i)Loan payment begin after graduation
ii)Applicants must a student of Cameroonian origin.
iii Brief description of your situation is required on application.
iv) An agreement between the lending institution and student is required.

Required Information

i) Full name of applicant
ii) Sex, Age and marital status
iii) Nationality
iv) Education background
v) Details of enrolling institution
vi Details of applicant’s course to studied at the institution mentioned above
vii) Duration of course
viii) Commencement and end dates of study;
ix) Amount of tuition and other required payment;
x) Bankers of the enrolling institution

Procedure

The process of How to Apply for a Student Loan in Cameroon
-

Step 1: Find out if you are eligible for a student loan.

Check to see if you are eligible for a Student Loan with the University of your choice in Cameroon for student loan guidelines.For example, full-time students who received loans previously, are eligible to receive student financial assistance for a maximum of 4 years of un interrupted academic study.

Applications can be found:

a) Through the student loan assistance office in the ministry of education;
b) in paper form at your Tertiary institute of your choice; and
c) in paper form at your district education office.


Step 2:Get a Student Loan and Grant application form:

One form is all that you need to be assessed for loans and grants.

Step 3: Complete the application form:

Complete and send your application form for student loan to your province or district residence. You can speed up the process by submitting directly at the Ministry of Higher education Student loan department in Yaounde cameroon.

Application procedures are based on where you live as a permanent resident glossary definition, not the province or territory where you plan to go to school (except for part-time student loans or grants).

Note: You must re-apply for a Student Loan every school year. If you do not apply for financial assistance during one semester or year of study, your student loan may be discontinued.

Step 4: Review your loan documents and confirm admission with your school

If you are approved for full-time funding, you must review your Student loan Agreement: Your Student loan is a legally binding contract, it is important that you review it carefully and read the terms and conditions. Check your personal information to make sure it is correct. If not, contact your student loan department office near your district. Include your banking information and a void cheque if you want your money to be deposited directly into your bank account. The Student loan is a yearly agreement.This means the next time you apply for student loan assistance, you won't have to sign and submit a new application form. Just complete and submit an application through your area representative and wait for your Notice of Assessment to come in the mail or Letter.

Step 6: Sign your student loan documents:

Make sure you fully understand your responsibilities and commitments before signing. Your loan agreement is a legal document and your signature means you agree to be bound by its terms and conditions.

Once you're sure that all the information is correct and you have read and accepted the terms and conditions, sign your agreement.

Step 7: Wait for your money to arrive!

Your loan or grant money will be deposited directly to your bank account or forwarded to your school to pay your academic fees (e.g. tuition) on or after the first day of classes.

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Required Documents

i) Copies of previous Academic documents
ii) A copy of an admission letter from the institution of higher education.
iii) A copy of a document identifying the applicant:
iv) Three recent passport photographs.
v) Chart of prescribed fees for the semester.

Fees

Explain the fees structure which is required for obtaining the certificate/document.

Validity

valid for 1 year and a renewal is necessary for subsequent years until the completion of your studies.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Allow 4-6 weeks to process the Application.

Office Locations & Contacts

Please list down the office locations that can be approached for applying. External links can also be used specifying office locations.

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Video

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites.
Please remove the "&" inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M". 
	

Information which might help

Enter other informations which might help

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

http://www.camerooneducation.info/education-funding/education-loans/index.html

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