Lebanese American University

Admissions, Aid and Scholarships

Wednesday December 12, 2018

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Educational Bank Loan to Lebanese students

Loan Conditions:

  • The interest will be borne by LAU for all eligible semesters. 
  • LAU will cover the student’s life insurance during the eligible semesters. 
  • The student will bear the interest and life insurance after graduation or loss of eligibility.
    • Annual interest rate will be determined on a yearly basis
    • Annual life insurance is based on the age of the applicant and loan repayment period.
  • After graduation, the student is granted one year grace period and a maximum of 10 years repayment period. 
  • The loan is a fixed amount in LL; any change in currency exchange rates would result in a change in the US $ value of the loan.
  • LAU reserves the right to terminate the loan sponsorship if the student loses eligibility.

Student Eligibility:

  • Students of Lebanese Nationality
  • Enrolled at LAU in any undergraduate program.  (excluding Bridge, Freshman, Intensive, special & undecided)
  • Financial Aid recipient
  • Referred to Bank by LAU

Guarantor Eligibility:

  • Of Lebanese Nationality
  • Parent, sibling, or relative of the borrower
  • Has a satisfactory credit history
  • Be less than 68 years old by the end of the repayment period
  • Has to be working for a minimum of two 2 years

Required Documents by the bank:

The student will submit the following documents to the Bank:

  • Copy of passport or ID card
  • Family civil status record
  • Proof of residence

The guarantor will submit the following documents:

  • Copy of passport or ID card
  • Proof of residence     
  • If employed:
    • Authenticated certificate of salary
    • Copy of NSSF card or Public cooperative card or Copy of medical insurance card
  • If self-employed:
    • Declaration of income (Revenues & Expenses)
    • Statement of Account for the past two years
    • Balance Sheet for the past two years
    • Tax declarations if available
    • Copy of company’s circular
    • Copy of medical insurance
  • In case of Negative pledge:
    • Copy of property deed
    • Real estate certificate
    • Real estate certificate for joint sections
  • Any other documents deemed necessary by the bank

It is the students’ responsibility to abide by all conditions and dates set forth to ensure that they receive the loan approval by the set deadline.

Any delay in submission of the loan application and the required documents to the bank will result in the cancellation of the loan.

The loan will remain tentative pending final bank approval.

 

Application Deadline

Financial Aid 

New students for Spring 2019: 
Oct. 1 - Dec. 4, 2018

New students for Fall 2019: 
Apr. 15, 2019

Scholarships

Merit scholarship for Fall 2019:
January 31, 2019

Athletic scholarship for Fall 2019:
April 15, 2019

Contact the Financial Aid & Scholarships Office

Email us on:
finaid.beirut@lau.edu.lb
finaid.byblos@lau.edu.lb

» Full contact information

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