Students: How to Apply for a Loan via ApplyBoard
ApplyBoard is pleased to be able to offer financial loans to select students to assist with their studies abroad. These loans are available to students to help with travel and living expenses, such as housing, utilities, food, transportation, and more. Receiving an education loan through ApplyBoard can also help improve a student’s chances at receiving a study permit, and support them in building a better credit score. Plus, choosing to get an education loan through ApplyBoard means having access to our study abroad experts, as well as personalized loan support from our dedicated Loan Officers.
About the Education Loan Program
In order to get started with the ApplyBoard loan program, the following steps will need to be completed:
1. Complete the Online Application
You will need to complete the online application form, which involves providing basic information such as your name, email, and nationality. If you have an application on ApplyBoard, you can submit an application for a loan right from the Applicant Requirements tab. If you're from India, you may apply for a loan with either an undergraduate or postgraduate degree program; students from all other nationalities are only eligible for loans with postgraduate programs.
2. Begin Working with a Loan Officer and Submit the Application
Once our loan experts have determined if you are eligible for a loan, they will contact you directly to collect more information needed to submit an application. This may include the your credit score, financial documents, and collateral information, if necessary. From here, our loan experts will decide which institution to file with depending on the application, and submit either via email or a portal.
Step 3. Confirm Banking Information
The institution will contact you to get login information and consent for your bank account. Once this login information is confirmed, our team will update our system. At this time, you can add up to two co-signers if necessary.
Step 4. Pay the Processing Fee
Once the bank approves the sanction, they will send you a request to pay the processing fee.
Step 5. Provide Follow Up Documents and Complete Agreements
Once the processing fee is paid, the bank will send you a sanction letter and agreement. Once you complete these documents and provide the bank with the necessary and leftover official documents, the bank will process the disbursement of funds.
Step 6. Disbursement of Funds
The funds will be disbursed to you or directly to the institution to complete any necessary educational payments. If sent to you, the funds will be put into a locked bank account that can only be accessed for travel, living, and education related expenses.
Additional Resources
If you’re interested in finding out more about our loans process, you can contact our specialized support team directly by emailing loans.support@applyboard.com. Frequently asked questions can be found on our Loans information page.
If you still can’t find what you’re looking for, feel free to connect with one of our agents using Live Chat, or connect with your Recruitment Support Officer.
At ApplyBoard, we’re striving to educate the world, and we don’t want a student’s financial status to hold them back. Work with ApplyBoard today to see how far your education journey can take you!