As the world is developing and becoming high-tech, the students are motivated to get into educational programs that are in demand and has a future. However, the financial constraints acts as a barrier in attaining the education. Parents also want their children to have a bright future as the roads to better jobs, more income and improved lifestyle is paved by education. Yet they find it difficult to raise funds for the college degree due to their low wages.
Although we know that scholarship is one way to plan education but it’s a fact that not everyone is capable to achieve a scholarship. Nevertheless why the students should suffer, in these circumstances the education loans make it possible to meet the requirements of the tuition fees. In this article we are going to help you in gaining insight of the eligibility criteria and platforms for getting international students loans in UAE.
Eligibility Criteria to get a Student Loan in the UAE
In order to apply for a study loan for international students in the UAE there are certain eligibility criteria that must be followed;
• You need to be a UAE national or resident
• The age must vary between 21 and 65 years old
• The minimum income must be AED 10,000 a month
• There must be a current account at a bank that is offering the education loans

What are the Benefits of Education Loan?
By the help of education loan students are able to fulfil their dream of acquiring higher education. As the studies as quite difficult and students need to take help from different resources such as books, internet, assignmenthelp.ae, research projects etc.
All these thing require sufficient amount of money. The other financial constraints can be resolved and the customer can easily pay for the education. Moreover, education loan makes sure that the education of the children are not at risk.
Characteristics of Personal Loan for Students Here are some of the characteristics that you must keep in mind when applying for a loan:
Loan Amount
The loan amount varies from bank to bank, such as the maximum financing that is provided by the Abu Dhabi Islamic Bank is AED 250,000. While in the Mashreq Bank it is AED 200,000. The loan also depends upon the eligibility of the student and their parents. The Union National Bank gives loan amount up to 20 times the salary of an individual and a maximum up to AED 500,000.
Loan Tenure
It is the amount of time given to the borrower to repay the loan along with the interest. The years vary between one to five years.
Minimum Salary
In order to attain the loan from any of the banks, the student must fulfil the minimum salary criteria. Yet the criteria may vary from bank to bank.
Interest Rate
It is also defined as the percentage of principals that is charged by the bank to the borrower for the use of its money. Yet it varies from bank to bank such as; Abu Dhabi usually charges 6.78% on the personal loan. Whereas the National Bank charges 9% from the students.
Processing Fee
The processing fee is a onetime charge that is charged by the bank from the borrower at the time of processing a loan.

Education Loan that are offered by Universities
There are some prestigious institutions in UAE that provides the financial assistance to the students.
UAEU (United Arab Emirates University)
The university has come up with a department named Non-National Students Office. It helps the students in all sorts of matters such as health insurance, financial issues and policies of the university to make you feel comfortable. They also act as a source of communication between the student and the governmental agencies.
Abu Dhabi University (ADU)
The financial aid program of ADU is known as the Sanabil-Qutoof program. The aid that is provided is between 10%-40% and depends upon your eligibility. The eligibility criteria in this university is; minimum of 2.5 CGPA is mandatory, the student must be enrolled in credit hours per semester or 3 credit hours for winter and summer. Moreover, the student must be able to meet the English language proficiency requirement.

American University in the Emirates (AUE)
There are a number of facilities that are provided by the universities such as need-based aids and scholarships. However, it will grant you scholarship or discount that will depend on the tuition fee. Although you need to be a full-time student to qualify for AUE’s aid.
Wrapping it up in order to avail higher education all you need is passion and dedication to study. As there are varied resources available for you in UAE, that maybe in the form of loan from the university or bank. We know it might seem like an overwhelming process, but once you dig into it all your issues will get resolved. So apply for a loan today to be a part of the education institution of your dreams.

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