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Ethiopia - Apply for Education Loan

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Contents

Introduction

Students can avail Education Loans to pay their education fee. This includes the cost of books, tuition fee and living expenses. Student Loans are different from the Ordinary Loans because they have easy repayment methods with usually low rates of interest. Further, there are different types of laws related to Student Educational Loans in Ethiopia.

The Student loan are structured to meet the higher cost of student in professional field such as medicine, Law,accountancy,Architecture, quantity surveying etc. The Federal government of Ethiopia Maintains a policy of no Tuition fees all Federal Universities while at the same time allows student to enroll in state universities to pay tuition in addition to room and Board.This is a system called cost sharing. It is a system where students in higher institutions are provided with room, food and tuition and they will share the expenses with the Government. After graduation, the students pay from their salaries each month. They are also required to stay in the country for certain amount of time(depends on what they studied) and serve the public. To get this cost sharing service, no separate application is required as long as the student has been assigned to any of the Ethiopian government higher education

Eligibility

Applicants must be Ethiopian 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 in Ethiopia.

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Instructions

  • Applicants must be Ethiopian students 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 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.

Procedure

The process shall be as follows

The Ethiopian 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 bank where the student has an institution account.

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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

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

Validity

This varies basing on the duration of course of applicant.But Usually 3 years repayment after completion of the 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

The time varies as indicated in different adverts.

Office Locations & Contacts

Ministry of Education

PO Box 1367, Addis Ababa, Ethiopia

Tel: 00251-11-155-3133

Fax 1: 00251-11-155-0877

Fax 2: 00251-11-156-5565

Fax 3: 00251-11-157-0686

Tel: +251 (11) 551 4599

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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.ethiopiaeducation.info/education-funding/education-loans/index.html

http://www.ethiopianmission.ch/assets/pdf/ministriescontact.pdf

http://www.moe.gov.et/English/Information/Pages/Contacts.aspx

http://www.moe.gov.et/English/Pages/index.aspx

Others

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