Laos - Guidance To Apply Student Loan

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Procedure

Education/student finance - Banks:

1. Gather all documents you may need to present or submit in order to apply for a loan.
2. Some banks may also require applicants to present a computation of expenses to which the loan will be used for.
3. Complete an application, so that your application will be processed immediately make sure that you have provided all the required information in the form. Most forms can be downloaded from the bank's website.
4. Submitting an application:
   1. In person: Most loan applications are done in person, with the applicant or his/her guardian going to the bank. Submit the completed application form along with other required documents. Note: It will be better if you can get in touch with the bank's representative/loan officer/customer service by phone first before you go to bank's branch. They can give you a checklist of required documents, answer some of your queries and direct you to the nearest branch of the bank in your area.
   2. Online: To save you some time, you may also check if you can start your loan application online. Some banks will ask applicants to complete a preliminary application to be submitted electronically. After reviewing the application, a bank representative will contact the applicant to tell them where can they submit their application and what documents will they need to produce.
5. Once your application is approved, the bank will ask you or your guardian to sign the loan agreement. Note: Read the loan agreement carefully before you sign, take note of the interest rate, grace period, when you will start repaying the loan and any penalties in case of default.

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Required Documents

List down the documents required for successfully completing the procedure.

e.g.
1. Proof of child birth from the Hospital.

Office Locations & Contacts

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Eligibility

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Fees

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Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

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Sample Documents

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Processing Time

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Related Videos

Videos explaining the procedure or to fill the applications. 
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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". 
	

Instructions

Before applying for a student loan:

• Make sure that you can present and submit all the required documents that the bank is asking for.
• Take note of the interest rate, conditions, and repayment scheme that the bank is offering. Look into several banks and do some research regarding the banks application process.
• It may also be helpful if you can ask your university/college if they offer any loans to students or if they have partnered with any banks that offers student financing.
• You might also need to consider the bank's customer service, since this type of loan are usually long term, it will make transactions easier and can save you from a lot of headache in the future if your bank has good and accommodating bank representatives or loan officers.
• Loan amount: You may not need to accept the entire amount of the loan the bank is offering you. Remember that what you are getting is not a grant but a loan, meaning you will need to pay back everything plus interest sometime in the future.

Required Information

Some information that loan applicants may need to provide in the application form (required info may vary per bank):

• Personal details:
  • Name
  • Place and date of birth
  • Passport number, place and date of issue
  • Nationality
  • Marital status
  • Contact numbers
• Work related information:
  • Company
  • Address
  • Reference name
  • Position held
  • Monthly gross salary
  • Start date
  • Other income
• Program information:
  • Name of the program
  • Name of the university/college
  • Duration of the program
  • Cost of the program
• Loan amount needed by the applicant

Need for the Document

Some banks in Laos offers education loans that can help students pay for tuition fees, accommodation and cover other studies related expenses.

Student loan schemes/education finance are designed to make the student's university/college life easier with its interest rate substantially lower than other personal loans offered by the bank and repaying the loan may be deferred while the student is still in school.

Here is a guide that can help students apply for student/education finance in Laos.

Information which might help

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Other uses of the Document/Certificate

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e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

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