Many UAE residents who complete their schooling in the country choose to continue their higher education locally. Despite various scholarship programs offered by UAE universities, the cost of higher education can still be significant.
In addition to banks, some UAE universities offer student loans, providing students the opportunity to pursue further education without financial worries. This is especially beneficial for parents who prefer their children to study locally.
For UAE expats, banks offer loans for higher education. Numerous scholarships and grants are also available to support their academic pursuits. Banks also extend loans to expatriate students. Here’s a guide on obtaining a student loan in the UAE.
Required Documents
The application process and requirements vary by bank and university, but generally include:
- Original and copy of the expats’s passport
- Bank statements from the past three to six months
- Residence visa
- Salary certificate (self-employed applicants must provide a trade license)
- University ID
- Fee requirements from the university
- Some banks may require a security cheque
Eligibility Criteria
To be eligible for a student loan, applicants must be UAE citizens or residents and meet the following criteria:
- Age between 21 to 65 years
- Minimum salary of Dh7,000, although this may vary by bank
Key Information
Student loans can cover not only tuition fees but also accommodation, transportation, and other expenses. For UAE nationals, the maximum age at loan completion is 65, while for expats it is 60. Some banks, like ADIB, offer installment postponement options twice a year. The typical loan repayment period is three years, though this may vary.
These options make higher education more accessible and financially manageable for both UAE nationals and expatriates, helping to support the country’s educational development.
