AUB Signs Student Loan Deals with Fransabank, BLOM
The American University of Beirut has signed multi-year cooperation agreements with two leading banks to provide students with low-rate loans, AUB said in a statement.
AUB President Peter Dorman signed the agreements with Fransabank CEO Adel Qassar and with BLOM Bank Chairman Saad Azhari, it said.
The loans are offered at a reduced 3% interest rate, and students are expected to start their 10-year repayment plan one year after graduation.
“This is an innovative program that carries major benefits for AUB and its students," said Dorman. "It will help us in using our financial aid funds more efficiently and in maximizing the number of students that can obtain financial assistance.”
Qassar said the initiative is a “powerful encouragement to the development, education and self-achievement of youth.”
“We are proud to have been selected by AUB as one of the few financial institutions taking part in this program,” said Azhari during the signing ceremony.