It contributes to removing obstacles to continuing education
A proposal to approve a "student loan" from banks... or to establish a special fund
“Education loans” are a seasonal commodity offered by banks as part of personal loan offers.
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Awatif Al-Harmoudi: “The conditions for obtaining loans are among those set by the Central Bank for loans in general.”
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The difficulty of securing tuition fees gets in the way of some students, and prevents them from completing their studies or obtaining their graduation certificates, which makes them lose the opportunity to enter the labor market early, and thus obtain suitable jobs for their educational specializations.
Students’ families suggested that charities in the state or businessmen and companies adopt a unified charitable fund for educational aid, to support students’ families who are unable to pay tuition fees, whether in universities or schools, with conditions and controls that ensure that this support reaches only those who deserve it.
Khalid Ibrahim (a father of a female student) said that the inability to secure tuition fees prevents some families of students in private schools from registering their children for the new academic year, as they receive notices from schools every year stating that their children will not be able to enroll in their classes at the beginning of the year. The new academic year, unless the late fees from the previous academic year are settled.
A student’s mother, who preferred not to be named, said that they were late in paying the tuition fees for their son, who is studying pharmacology at a private university in the country, until the amount that the university administration is asking them to pay exceeded 120,000 dirhams, explaining that “the student has only one semester left before him.” For a period of three months, until he graduates from the Faculty of Pharmacy at the university.
A student's mother stated that her daughter obtained more than 99% in high school, and enrolled in a medical school in a university in the country, but she cannot pay the fees, because the student's father is dead, and the fees are high, and she fears that her daughter will not complete her studies.
A university student’s guardian suggested that any charitable organization adopt the establishment of a fund to support students, whether in universities or schools, in paying tuition fees, even if the support is partial, so that no student will be hindered in continuing his education or obtaining his graduation certificate because of the fees.
He added, “The fund must have specific and strict conditions in order for the support to reach those who are actually entitled to it,” noting that private schools and universities that insist on collecting their fees and rights from the parents of their students cannot be blamed, in return for the educational services their children received there, but at the same time The family may fall under financial pressure due to circumstances beyond its control, and in this case, it needs the support of the white hands in the community.
The father of three students said that the company in which he worked as an account manager suffered huge financial losses, which led to its declaration of bankruptcy and the termination of the services of all its employees. Difficult financial circumstances, two of them were able to finish high school last year with distinction, but the school administration refused to grant them a high school diploma due to tuition arrears, so they were unable to enroll in the university.
For her part, banking expert, Awatef Al-Harmoudi, said, "Education loans are considered a seasonal commodity offered by banks within the offers of personal loans to individuals and families, as banks offer offers on credit cards, personal and study loans, and the borrower pays them in monthly installments."
She added that setting the requirements for obtaining loans are among the requirements set by the Central Bank for loans in general, so that the monthly deduction from the guardian’s salary does not exceed a certain percentage, then other conditions differ from one bank to another, in terms of the place of work of the student’s guardian, so that it is an entity Work is approved, within what is called the bank’s financing strategy. There is a bank that gives in return for the salary, and another in return for the employer’s guarantee, and it is required that the borrower reside and work within the country.
She explained, “It is not possible to adopt a deferred loan until the student graduates, because the exact timing of his graduation cannot be determined, as he may fail in his studies.
It is also not possible to guarantee his employment immediately after graduation, and it is not possible to know the salary that he will receive if he is employed.
Banking expert Amjad Nasr said: “We have previously submitted a project to approve loans for university or school education, and these loans needed extensive study.” Without interest), as there was an agreement between the bank that adopts this type of loan and the schools, whereby the bank card holder, when paying the fees with a credit card, gives the customer (the father of the student borrower) a discount, then the amount is paid in installments over 12 months, and this method It is suitable for a family that has a student or two, but for more than that, it is better to have a (student loan), because the amount will be greater.
He continued, "The best types of (student loan) allocated for university education are for families who do not have sufficient income, while their children are excellent students, but it is important to determine the type of study, because some university majors, whose graduates work faster, because they are among the requirements of the labor market."
He stressed that a (student loan) should be available, whether through a bank or through a fund established for this purpose, with the contribution of the private sector and banks.
He stated that large companies can set up a fund for students they select, and then after their graduation they employ them, as they choose students who study majors they need, in order to build a distinguished career cadre, and the fund is for a specific period of time, which extends to at least five years.
Regarding the guarantees that can be provided to obtain a “student loan”, he explained that “any loans involve a degree of risk, but when companies need well-educated cadres, the repayment of the loan will be guaranteed after employment, through an agreement signed between the two parties (the company And the student), with the availability of guarantees from the family.
He stressed that the loan approval project needs to be studied in all its aspects, in order to achieve two goals.
The first is to facilitate the enrollment of students, especially the outstanding ones, in the study, and not to stumble them because of the tuition fees, and the second is to achieve the guarantees required for the fund or the bank to recover the loan after the expiry of its period.
"The university provides the necessary support to students with regard to collecting tuition fees, as it has taken upon itself to provide facilities for its students, including providing options and flexible payment plans for tuition fees, and providing facilities for international students," said Gary Fernandez, head of the Department of Prospective Student Affairs at a private university in Dubai. To enable them to pay the expenses in four instalments.
Citizen and resident students also have the flexibility to pay university tuition fees in seven installments, which reduces the burden on students and their families. Local postgraduate students applying for our full-time programs can pay in nine installments, and part-time students can pay in 12 installments.
• "Large companies can set up a fund to support specific students, provided that they are employed by them after they graduate from university."
• "The inability to secure tuition fees prevents some families of students in private schools from registering their children for the new academic year."
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