Checking the student’s status
The Student Loan can be disbursed only to students who have enrolled for a university or college course in the given semester. After signing a loan contract with you, we check your student status through your Student Affairs Office or the National Higher Education Information Centre. For this reason, you are advised to enrol for your course as soon as you can!
· If your university or college confirms your student status, we will transfer your loan to your bank account on the next disbursement day.
· If your university of college does not confirm your student status for some reason, we will send you a letter asking you to prove that you have enrolled for the given semester within 8 days.
As soon as your higher education institution confirms your student status, your loan contract comes into effect.
Disbursement of the loan amount
If your student status has been confirmed, your loan will be transferred to your bank account on the next disbursement day after our data reconciliation. The first Student Loan disbursement in every semester takes place no later than the 15th day of the second month in the semester.
Example: If you submit your loan application before 15 September 2011, and you meet the eligibility criteria for taking out the loan, and your university of college confirms your student status, then we will transfer your Student Loan on 14 October.
How much money will I receive, and when?
Refer to the table in our Business Rules for the amounts you will receive and the related dates, providing that you meet all disbursement criteria.
