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Egypt - Apply for Education Loan

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Contents

Introduction

In 1998,The Egyptian Student loan Board in partnership with the International Finance Corporation (IFC)come up with a project of student loan program for university students in Egypt, whereby IFC shared risk on the portfolio of loans. The Student loan portfolio was originated and managed by an experienced bank on a commercial basis. The maximum size of the portfolio injected was $39 million equivalent and the Egyptian Government by the year 2000 established a 100 million Egyptian pounds loan program for needy university students.

This Student Loans is used by students to pay tuition at private universities for undergraduate and graduate education. The maturity of the loans is up to eight years which can enable students to repay the loans from their earnings after graduation.

Eligibility

  • Applicants must be Egyptian students seeking to pursue higher education in an accredited institution of higher learning recognized by the *National Council for Higher Education and also pursuing an accredited program.
  • Applicant Must be Egyptian students attending private universities located in and around Cairo only.
  • Egyptian students who can prove that they are in need of financial assistance for education-related expenses are eligible to receive up to 1000L.E. per year in government loans.

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Instructions

  • The loans are interest free and repayment is spread out over a period of 40 years after graduation.
  • Applicants must be Egyptian private students located around Cairo ONLY.
  • Applicants must be admitted to an accredited Higher Educational Institution.
  • Make a written application to the Students Loan Scheme
  • Submission of application should be within a specified time frame.
  • Students should apply before commencement date to allow ample time for processing.
  • Successful loan applicants shall be required to sign the loan agreement.
  • Re- paying of loan shall be at least one (1-2) year and government loan up to 40 years after completion education

Required Information

  • Full name of applicant
  • Sex, Age and marital status
  • Nationality
  • Education background
  • Details of enrolling institution
  • Details of applicant’s course to studied at the institution mentioned above
  • Duration of course
  • Commencement and end dates of study;
  • Amount of tuition and other required payment;
  • Bankers of the enrolling institution usually Local Egyptian Banks.

Procedure

The process shall be as follows
  • The Egyptian Student Loan Board will run an official advert in the major print media of national coverage calling eligible students to apply for loans.
  • Eligible student then applies to the Board for the loan or scholarship by:-
  • Obtaining and filling in application form from Universities (office of the dean of students);
  • Attach all required documents; and
  • Make all necessary payments
  • Submit application within a specified time frame to the office of the
  • Deans of Students. The forms shall then be collected by the staff of Students Loan Task force.
  • Loan Application Forms shall then be received by the Records Officer at the Students’ Loan Scheme offices.
  • Received application forms shall be recorded at the Mail registry and forwarded to the Operations Unit (Loan Officers) for assessment. :* In this case any forms that are defective the applicant shall be informed through e-mail, sms message or by telephone.
  • Then a list of successful applicants shall be generated and sent to the Head Operations for verification, and evaluation and recommendation to the coordinator for approval.
  • The coordinator then presents the approved list to the Selection Committee for discussion and final approval.
  • If approved, the Coordinator forwards the list to the Head Operations and Finance for the implementation. Implementation will include authorization, publishing list in the print media and on the Ministry website and drafting of the award letters for the Coordinator’s signature.
  • The successful applicants are then informed of the Committee’s decision and the amount allocated.
  • The board shall then go through the applications to select suitable beneficiaries;
  • After selection, the Board shall allocate a student loan identification numbers to each approved applicant;
  • Identification cards shall be issued;
  • The funds in respect to the tuition and functional fees will be forwarded to the selected Egyptian commercial bank.

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Required Documents

These requirements vary from bank to bank. The following may however be described as the common denominators:

The candidate should open an education account with the bank S/he should deposit a processing fees on your account

  • Copies of previous Academic documents
  • A copy of an admission letter from the institution of higher education.
  • A copy of a document identifying the applicant:
  • Three recent passport photographs.
  • Chart of prescribed fees.

Fees

Processing fee is 50 Birr per Students.

Loan to undergraduate are designed to replace a likely debt burden ranging from 1,000 LE.

Validity

This varies basing on the duration of course of applicant.But Usually 2 years repayment after completion of the studies.

Documents to Use

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

Sample Documents

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Processing Time

The time varies as indicated in different adverts.

Office Locations & Contacts

Ministry of Education

Dr. Ahmed Zaki Badr

Position:Minister of Education

Address 12 Falaki Street - Cairo

Phone no. 25787644 - 27947363

Fax 27962952

E-mail emis@support.emoe.org

Website:http://moe.gov.eg/Pages/Default.aspx

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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

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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.erf.org.eg/CMS/uploads/pdf/1234724021_HE_EGYPT_YF.pdf

http://gse.buffalo.edu/org/inthigheredfinance/files/Country_Profiles/Africa/Egypt.pdf

http://www.wes.org/ewenr/00july/middleeast.htm

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