Saudi Arabia - Guidance To Apply Student Loan

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Procedure

Banks offering scholarships in the form of interest free loans:

1. Complete an application form:
   1. The form must be submitted in typed form or written clearly with ink in block letters. You may use additional papers if necessary.
   2. Information must be provided in the language of the form. You will need to attach a certified translation of any document not in the language of the form.
   3. The form must be completed fully, otherwise the application can be delayed or cannot be processed entirely.
2. Submit or send the completed Application Form and other required documents to the Counterpart Organization in your country and not to the lending bank directly.
3. The Counterpart Organization will study the application to establish eligibility and/or to ascertain completeness of documents. If certain documents found incomplete or missing, the applicants will be informed accordingly.
4. Those who are qualified will be interviewed by a Selection Committee/Counterpart Organization and a full report on students selection will be submitted to the lending bank.
5. In Jeddah, the lending bank's Scholarship Division will study the interview results and the application forms before submitting its recommendation to the Executive Committee of the Scholarship Programme for final selection.
6. The results of the selection process will be conveyed to the Counterpart Organization who, in turn, informs all the applicants.
7. Applicants who are selected will be asked to sign a Scholarship Bond, confirming their commitment to repay the scholarship and other funds received from the Bank, this is done before the student starts attending classes.

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Required Documents

Banks offering scholarships in the form of interest free loans:

• Certified true copy of birth certificate
• Certified true copy of secondary school certificate
• Transcripts/copies of reports of grades of last two years of high school
• Certified true copy of certificate of admission (in one of the approved fields of study) to a College or a University
• Declaration of intent to comply with IDB scholarship rules and regulations (Attachment-1)
• Certification of the applicants Declaration by a recognized Muslim Organisation (Attachment-2)
• Declaration of Intent to Refund (Attachment-3)
• Two passport-size photographs (4 cm x 6 cm)
• Certificate of good health from a doctor or a hospital

Note: Required documents above is for banks that offers financial help to needy Muslims students by awarding them interest free loans. Criteria for other banks who are offering interest bearing loans are different.

Office Locations & Contacts

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Eligibility

Banks offers interest free loans to a student who:

• Is not over the age of 24
• Completed senior secondary education /pre- university degree with good grades in major science subjects and language of instruction.
• Secured admission in one of the disciplines covered under the Programme at a recognized college or university in your own country (students for in-country study).
• Not receiving any other scholarship.
• Committed and needy Muslim.
• Recommended by the Counterpart Organizations.
• Willing to return to your country and help the development of your community and country upon graduation.

Note: Eligibility criteria above is for banks that offers financial help to needy Muslims students by awarding them interest free loans. Criteria for other banks who are offering interest bearing loans are different.

Fees

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Validity

Borrowers are expected to pay back the loan and other funds received from the Bank, upon graduation.

Documents to Use

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Sample Documents

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Processing Time

Banks offering scholarships in the form of interest free loans: The entire application and selection process may take between 2 to 3 months.

Related Videos

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Instructions

Banks offering scholarships in the form of interest free loans:

The scholarship programme is implemented by banks in cooperation with the Counterpart Organization (CPO) in the borrower's country. Announcement for the Programme comes from the CPO who is also the one who distributes the application forms (free of charge), processes applications, does the necessary pre-selection process, and sends the results to the bank in Jeddah, Saudi Arabia, where the final list of loan recepients is made.

To apply, get in touch with the Counterpart Organization in your country, express your interest to obtain a scholarship, your situation and needs and obtain application form from them. They will assist and guide you in accordance with the policy of the Bank.

Note:

• All applicants are required to show their original certificates (including certificate of University or College Admission) at the time of the interview.
• Do not supply any false information in your application, doing so can result in either cancellation of already approved application or termination of scholarship.
• All inquiries about the Programme should be addressed to the designated lending bank's Counterpart Organization for the Scholarship Programme in your country or to the Organization or person mentioned in the advertisement of the Programme.

Required Information

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.

Need for the Document

Some banks in Saudi Arabia offers financial help to students by awarding them scholarships. The scholarship is an interest-free loan enabling recipients to study Medicine, Engineering or Agriculture (or other fields as approved by the bank) and it can be used to pay for the cost of living, books & clothing, tuition fees (wherever applicable) and medical expenses

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

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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