Yes, this is an international Student Loan Product, you are expected to repay the Loan.
- How much International Student Loan can I get for a two-year program?
Each applicant can get a loan up to 100,000 USD for a two-year program.
- What is the Interest Rate on the International Student Loan Provided?
For post-graduate loans to the United States or Canada, the interest per annum is charged at 11.99% whilst for undergraduate loans to the United States or Canada, the interest per annum is charged at 13.99%. For any candidate going to the United Kingdom and other European countries, we work in, the interest per annum is charged at between 7-11%.
- Who can apply for these LOANS?
Kindly note that prospective candidates willing to apply for our International Student Loans to countries outside of the United States or Canada, you must earn minimum annual salary of USD 70,000 in your local currency. You are only eligible if you work as a Senior Manager or C-suite Executive in a BLUE-CHIP Multinational or Supra-National Company that has over 1,000 Employees. We encourage folks to apply for the United States or Canada if you do not meet this basic requirement for the United Kingdom and Europe.
- How does the repayment plan work?
Approved applicants will not begin to repay the principal until 6-12 months after graduation. Anyone taking the loan is mostly expected to stay back in your country of study, get a job, earn a salary, and begin to repay back the loan. Repayment can be spread between 7-20 years dependent on the country of study. This is only applicable to the United States and Canada.
- Will I be paying the interest on the loan immediately?
Yes, you will need to start paying the interest on the loan 45 days after disbursement. For candidates going to Europe, you are not mandated to repay the interest on the loan as a student.
- How do I make money to repay the interest on the loan?
International Students are encouraged to look for part-time student jobs in the United States or Canada where interest repayment is applicable to enable them earn income that can be used to service the interest on the loan. In cases where family members can repay the interest, a student has no obligation to make money whilst studying. Candidates going to countries outside of the United or Canada are not mandated to get part-time jobs to repay the interest on the loan.
- Do we require a collateral, or co-signor (guarantor) to qualify for a loan?
No, you do not need a collateral, co-signor, or guarantor to QUALIFY FOR the LOAN.
- What class of degree does our International Student Loan support?
We work with students that have a first-class, second-class upper, second-class lower-class and third-class degrees from a recognized University. We also support Graduates of African Polytechnics (HND Holders).
- Is it compulsory that we apply to the partner schools identified on your website?
Yes, we work with over 1,200 schools across the United States, Canada, United Kingdom, Germany, France, Belgium alongside other countries.
- Can I use any type of course to apply for a loan?
We encourage applicants to apply for courses that are commercially relevant that guarantees job opportunities and a great salary. Courses around Business, Technology, Sciences, Health, Health Sciences, Engineering, Mathematics, Law/Public Policy tied to Technology and Business Finance. We recommend courses to prospective students once you become a member of the ProconnectPAY EMIGRATE Network. These recommendations are data gotten from current candidates and members of the ProconnectPAY EMIGRATE Network.
- Do I need a standardized exam or English language test score to qualify for a Loan?
Kindly note that we encourage Prospective Candidates to choose Universities that do not require GRE, GMAT, IELTS, or TOEFL. It saves cost and it saves time.
- Will a free visa support letter be issued?
Yes, a free visa support letter will be given to aid your application for a visa in your country. The same letter of support will also be given to enable prospective candidates get their 1-20 or other visa documentation from the school who has offered an admission. This is contingent upon our conditional approval when candidates meet our lending criteria.
- Will the cost of flight out of my country be covered via this Loan?
ProconnectPAY will provide a soft-loan stipend that covers basic expenses like departure, rent for one-month, and feeding for one-month pending when you resume in the United States or Canada and register yourself on campus, so your loan is disbursed to your school.
- How do I begin this process of getting an International Student Loan?
First step is joining the ProconnectPAY ‘EMIGRATE ’ Network. Once you are onboarded, we will begin your loan application process immediately.
- Will the International Student Loan be paid to me?
No, we will disburse monies directly to your school. We will work out the details of how you access the living cost portion of your loan once you are settled in your school. You won’t have access to any of the approved loans until you resume your education and register yourself on campus.