Nasser Social Bank (NSB) specialized in granting soft loans and microfinance – File Photo
CAIRO 8 September 2019: Nasser Social Bank continues to offer loans to help Egyptian families pay school fees, said deputy chairman of the bank Sherif Farouk on Sunday.
The loan is repaid over ten months and is given to families to finance either one school year or an entire educational stage like the preparatory one with a maximum of EGP 50,000, he said in statements.
The program aims at helping needy and low-income families provide good education to their children, he added.
It targets government employees and pensioners, as well as private sector employees and the self-employed.
The program aims at increasing school enrollment rates and alleviating financial burdens on families.
Farouk specified the needed documents for every sector to apply for the loan.
Government workers need to fill a loan request application, as well as provide a valid national ID and a letter from the school specifying the student’s year and the required amount of money.
Finally, the borrower should disclose to the bank his/her monthly pay as well as a computer-issued birth certificate of the student.
As for pensioners, the same rules apply in addition to a statement with their monthly pension money.