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Financing college tuition

Estimated Time:

One week

Location:

Public service desk in Amman and branches of the Fund in all Governorates.

Branches of the Fund in Jeeza(Central Area),

the northern Badia in Mafraq

and the Husseiniya area in Ma'an Governorate.

Po Box (922708) Amman (11192) Jordan-  Tel. 4618851 Fax 4618845.

You can contact the Public Service on (4618458)

The north branch (027102065)- The south branch (032341069).

Estimated Fee:

5 JDs application fees.

Conditions for obtaining service

Terms and conditions of service:

The number of beneficiaries should not exceed two in the same family book.
The student must be a regular student at one of the public or private Jordanian universities and for the bachelor's degree only.
The student should be between 18 and 30 years of age.
Not to benefit from any scholarships at the expense of any other party.
To have a member of the student’s family (father, mother, siblings, uncles, grandparents) as a personal sponsor of the loan.
The funding ceiling should not exceed (15) thousand JDs and disbursement is done in installments directly to the university after providing a proof of passing the previous semester.
Murabaha ratio is (5%), repayment tenure (6) years, and a moratorium grace period of (3) months from the date of signing the agreement.

Notes

Providing the needed financing to cover university tuition's for poor students.

Partner institutions:

Partner institutions in service delivery:

Public and private universities.
Departments and institutions where the sponsor / sponsors work.
The Department of Land and Survey in case of mortgaging the property as collateral.
Commercial banks.

Procedures

Visit a branch of the Fund and meet with a credit officer.
The Lending Officer shall provide all information on the terms and mechanism of lending and required guarantees.
The applicant is provided with a list of requirements.
Once all documents are made available, the applicant submits all the documents to the credit officer in the relevant branch.
The funding application is entered into the E-system and an evaluation study of the loan is conducted.
The application is presented to the Loan Committee.
If the Committee approves, the file shall be returned to the relevant branch for signing the agreement by the Borrower and the sponsor (s).
Provide the service applicant with a card to pay the service fees at partner banks in all branches.
The service applicant shall hand-over the deposit receipt or receipt voucher to the credit officer.
The Agreement and its annexes shall be signed by the Borrower and the sponsor (s).
Payments are disbursed to the relevant University in installments, according to the student's semester; against a financial claim document to be presented by the University indicating the amounts incurred by the student.

Required Documents

A certified copy of the civil status ID of the student and sponsor (s).
The original salary slip of the sponsor + letter of deduction from the entity where the sponsor works.
Title of ownership of the real estate if the property is being mortgaged + a price appraisal letter from the Department of Land and Survey or a licensed surveyor.
A copy of the student’s high school certificate.
A copy of the lease or title deed of the place of residence.
The borrower's housing electricity bill.
Proof of studentship.
A certified copy of the family book.
A copy of student’s university identity.
A financial claim for the amount due on the student as a tuition fee.