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Palestine - Guidance To Apply Student Loan

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Procedure[edit]

Student Loans in Palestine - Banks

  1. In reviewing loan applications, banks will usually take into consideration the applicant's character, capacity to repay the loan and ability to comply with the bank's conditions. To help them evaluate your application, they might ask you to present some form of identification or evidence that you are currently enrolled in an educational institution.
  2. For banks to know how much you will need to borrow, they will need a computation of your tuition fees, accomodation fees if there's any, school materials etc. Banks may also ask you to provide information about your income/parent's income.
  3. Some banks may require you to present a guarantor to co-sign the loan agreement. Requirements for guarantors are usually someone of good standing, professional and with fix monthly income.
  4. Search online for banks that offers student loans in Palestine. Get in touch with the bank to inquire about their application process and which documents do they require their applicants to submit. Make sure you can present and submit all the required documents that the bank is asking for.
  5. Check if you can start your application online. Some banks will ask applicants to complete a preliminary application online. 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.

Notes:

  • Before you apply for a loan, carefully 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 that you also need to consider in choosing where to apply for a student loan is the bank's customer service, since this type of loan can take years of continuous correspondence between you and your bank, it will be much better if your bank has a good and accommodating customer service, this will save you from a lot of stress in the future.
  • You may not need to accept the entire loan amount the bank is offering you. Since you will be paying back the loan sometime in the future, it will be more ideal if you will only borrow what you need.



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Required Documents[edit]

Some documents that banks may ask loan applicants to produce:

  • Registration certificate for students enrolled in the university and admission certificate for new students
  • Registration certificate for the semester showing number of credit hours and required value

Note: Documents listed above are just some of the requirements that a bank may ask you to submit, it may vary per bank or some banks may ask you to produce additional documents. Get in touch with the bank for more information regarding required documents.



Office Locations & Contacts[edit]

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



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Eligibility[edit]

Student Loans in Palestine - Banks: Applicants must be over 18 years old


Eligibility criteria may vary per bank, it will be better if you will get in touch with a bank representative first to check.



Fees[edit]

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



Validity[edit]

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



Documents to Use[edit]

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



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Sample Documents[edit]

Please attach sample completed documents that would help other people.



Processing Time[edit]

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



Related Videos[edit]

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". 
	



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Instructions[edit]

Student Loans in Palestine - Banks

Some banks in Palestine developed a Student Loan Program to provide Palestinian students the opportunity to pursue their university education.

  • Loan Amount: Some banks determines the total loan value by taking into consideration the number of years it will take to finish the course and the cost per semester.
  • Disbursements: Loan is granted in installments ideally at the beginning of each semester.
  • Guarantees: Applicants may need to have a guarantor in order to receive a loan:
    • Guarantee of a parent and a guarantor receiving a regular salary
    • Two additional guarantors receiving regular salaries shall be included in case the parent has no salary while adding the parents legal guarantee



Required Information[edit]

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.



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Need for the Document[edit]

Designed to help students pay for university/college tuition, books, and living expenses, student loan differs from other types of loans with its interest rate substantially lower and repayment of the loan may be deferred while the student is still in school.

Some banks offers this specific type of loan to their customers. A student loan can also be obtained through a government student loan program, this may not be the case in all countries so it will be better if you will check first if such program exists in your country.

Following is a guide on how students can apply for a loan or seek financial aid in Palestine.



Information which might help[edit]

Enter other informations which might help



Other uses of the Document/Certificate[edit]

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External Links[edit]

Place some external links which might help



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Others[edit]

More information which might help people.