Uruguay - Guidance To Apply Student Loan

Advertisement

Procedure

Student Loan - Banks:

1. The student or the student's parent/guardian may apply for the loan. Gather all documents you may need to present or submit to the bank. #Complete an application, make sure that you have provided all the required information in the form. Most forms can be downloaded from the bank's website.
2. Submitting an application:
   1. In person: Most loan applications are done in person, with the applicant or his/her guardian going to the bank, you may set up an appointment with the bank by giving them a ring. Submit the completed application form along with other required documents. Note: Banks may ask you to submit additional documents aside from the ones listed on the 'Required documents' section. It will be better if you can get in touch with the bank's representative/lending 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, with some of the required documents sent via email. After reviewing the application, a lending officer will contact you to discuss your application.
   3. By Phone: Some banks can also process loan application by phone. Start your application by calling the bank's customer service number, make sure that you can provide basic information needed in the application like how much do you need to borrow, university and course info, company details etc.
3. Once your application is approved, the bank will ask you or your parent/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.

Advertisement

Required Documents

Some documents that banks may ask loan applicants to produce:

• Completed application form
• Primary ID
• Proof of address i.e. utility bill, statutory declaration, electoral roll
• Confirmation of student enrolment
• Personal guarantee information & signed form (if applicable)

Note: The bank may ask you to present additional documents, check the bank's website first before going to their branch office to apply for a loan.

Office Locations & Contacts

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

Eligibility

Provide eligibility criteria's for going through this procedure.

Fees

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

Validity

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

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

Please explain processing time taken in obtaining the document/certificate.

Related Videos

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". 
	

Instructions

Student Loans - Banks

Some banks in Uruguay offers loans to students to help them pay for the costs of their studies. A student loan can be used to pay for tuition fees, books, accommodation, and other studies related expenses.

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.
• One thing you must ask about applying for loan is when are you suppose to pay the loan back, some banks offers short term loan (12 months) and some can extend up to 48 months.
• You might also need to consider the bank's customer service before you apply for a loan, it will make your transactions easier and can spare 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

• Applicant's name and other personal details
• Loan purpose
• Frequency of repayments would the client prefer

Need for the Document

Some banks in Uruguay offers student loans that can help cover school related expenses like tuition fees, travel, accommodation and daily expenses.

Student loan schemes are designed to make the student's academic life easier with its interest rate substantially lower than other personal loans offered by the bank.

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

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

Place some external links which might help

Others

More information which might help people.