Once the loan has been sanctioned we will facilitate signing of the loan agreement and all legal documents. We will then ensure the money is sent to the corresponding University/School to cover either tuition (total or partial, according to your loan amount) or tuition and living expenses as per detail provided by the student.
The full amount of your Sanctioned loan will be sent directly to the school. Any amount in excess of your tuition due, when applicable, will then be transferred from the school to your personal bank account so that you can use it for living expenses and other costs.
If you have questions about how this process works at your schools, please contact the Financial Aid Office at your school.
The interest will get charged to the loan amount drawn. The same shall have to be paid partially of fully during the time of study. Incase the same is paid partially the same would get adjusted against the principle outstanding of the student.
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