The primary features of the educational loan scheme, accessible through the signatory Credit Granting Institutions is as follows:

A maximum loan value of SR 800,000

An interest subsidy of 4 percent will be provided by the Government (resulting in interest borne by the Borrower being the Credit Granting Institution’s interest rate less 4%)

Repayment will be for a maximum of 10 years.

There will be a full government guarantee.

Personal Contribution will not be compulsory.

Students can borrow in their own right, therefore no compulsory co-borrowers will be required

The borrowers would be required to be bonded to the Republic based on the value of the liability for government in relation to the subsidized rates

The students would not need to commence repayments on their loans until they have graduated and are in receipt of their degree, certificate or diploma. In the grace period, the government will cover and disburse to the lending institution its interest rate subsidy, however, the balance student borne interest would be capitalized.