Note: Please read this announcement carefully. All necessary details are mentioned here. Applicants with incomplete documents will be automatically disqualified.
The Loden Foundation is pleased to announce the Loden Short Term Student Loan for 2024!
DOCUMENTS REQUIRED:
- Filled out Student Loan Services Application Form
- Passport-sized photo of applicant (after selection)
- CIB report of the loan applicant (parent or guardian)
- CIB report of the guarantor who will be in charge of repayment should the loan applicant be unable to repay
- Payslip/bank statement from 6 months ago of applicant
- Payslip/bank statement of guarantor
- Fee structure from college/university
- Proof of admission to a college or university
- Cover letter explaining why you need the Student Loan and how you plan to repay
- Class 12 results of student applicant
- Undertaking letter from the office of the loan applicant
Components of the Student Loan:
- Interest-free: No interest on the loan shall be charged
- Collateral-free: Students and their families can avail the loan without having to put their personal assets as a guarantee.
- The student loan amount shall be up to Nu.300,000.0
- The Equated Monthly Installment (EMI) scheme will be followed by all loan beneficiaries. The EMI amount will be calculated upon the confirmation of the loan amount and the loan shall be repaid within a period of 12 months.
- A 10% penalty will be charged on the overdue amount of that year.
- The loan amount will be calculated based on specific education costs such as tuition, room and board, admission, and examination fees.
- 2% administrative fee will be charged on the student loan amount for each tranche.
- The repayment of the loan will start one month after the disbursement of the fund and the entire loan must be repaid within the 12 month period unless otherwise extended by the office.
- The loan applicant must have a guarantor with a regular source of income.
APPLICATION PROCESS:
Applications will be accepted ONLY via the GOOGLE FORM, and all inquiries must be made online via email or phone.
- Combine all your documents into ONE single PDF (if you are not sure how to do this, you may use a free online service such as https://combinepdf.com/ or https://www.ilovepdf.com to combine your documents into one PDF file)
- Submit your applications in a single PDF file via the Google Form. Applications in hard copy format delivered in person or by other means shall not be entertained.
DEADLINE:
The Loden Short Term Student Loan deadline is 5 PM, May 29, 2024.
Should you require information or have queries regarding the student loan, we strongly encourage you to access our online platforms or contact Ms. Pema Tshogyal at office phone 77195588 during office hours (9 AM – 5 PM on Weekdays) or email ptshogyal@loden.org