Have questions about the EIPRHR's STUDY NOW PAY LATER (SNPL) scheme.

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Following are the list of Frequently Asked Questions.

 

Q: I am from Asian/ Middle East country; can I apply to avail loan under Study Now Pay Later plan?

A: Yes. The program offered by EIPRHR are available to candidates of all nationalities, in the same way the loan also can be applied by the candidate belonging to any nationalities.

 

Q: When would I need to repay the loan taken by me?

A: The repayment plan is available in 3,6,9 12 months plan. You can choose one which suits you the best and you can repay easily. There is no interest in the loan amount till the time you chosen in your loan application.

 

Q: What documents are required to avail/apply for loan under SNPL?

A: Please visit the SNPL page click here

 

Q: My parents are not earning, can I still apply for the SNPL loan?

A: We understand the situation of unemployment due to older age or current COVID-19 situation, if the repayment can be done within chosen time it does not affect us if your parents are not working.

 

Q: I want to repay and close the loan, how can I do?

A: We welcome if you want to repay your loan before the term chosen by you. Write to loan@eiprhr.org and request to close your loan, the loan centre will send you the final invoice to repay and once you pay the invoice your loan will be closed.

 

Q: How to apply for loan under Study Now-Pay Later?

A: Please visit the section, How to apply under details given on the SNPL page click here.

 

Q: What is upfront fee? Is this is deducted from the program fee?

A: The upfront fee is Euro 399. No matter what is your program fee, it will not increase in any case. This is the first initial amount you pay out of your program fee. The loan will be approved of an amount minus of the administrative fee out of the total program fee.

 

Q: How to pay the administrative fee?

A: Administrative fee is to be paid online at the payment gateway powered by PayPal; securely embedded within institute’s website. To pay the “Administrative fee, visit the SNPL webpage and look for the Payment button and follow instructions

 

Q: When my monthly installment will begin?

A: The installment will begin from the next month onwards. Example if your loan is approved on 22nd June the first installment will be due on 22nd July and so on.

 

Q: What is the maximum duration, I can repay the loan?

A: The maximum duration is 12 months but each course has different duration. Please check the program page before applying.

 

Q: I was rejected by the bank for a loan, would I still can apply your loan under SNPL?

A: It does not matter if your application was rejected by any bank due to some reasons. We do not take it as case to decide our loan under SNPL. Our loan centre works independently.

 

Q: How would I know that my application for the loan is successful?

A: If your loan is approved, you will receive an email confirmation in your registered email ID in our records.

 

Q: If my loan application rejected by you, will I get my refund of administrative fee?

A: Generally a loan application is not rejected unless the information provided/documents uploaded are not correct/genuine. Our application centre will refund your administrative fee immediately to you and inform you about the same to correct the objections marked by the loan officer to enable the application centre to reprocess your loan application.

 

Q: If my loan is rejected, will my enrollment in the program also be cancelled? How can I reenroll then?

A: Yes, if due to any reason your loan application gets rejected, your enrollment which was allotted will be cancelled. To enroll again, you will be required to pay the full program fee in one time.

 

Q: What is the interest that I would need to pay on my loan?

A: There is no interest. The SNPL plan is not established to earn the interest but the mission is to help needy students lacking the fund to enroll in the program

 

Q: What will happen if I do not pay any of my instalments?

A: There will be a penalty of Euro 20 per missing installment if the loan is not repaid in chosen time

 

Q: What is the process of loan approval?

A: The loan is approved within same day in 2-3 working hours after receipt of the loan application.

 

Q: I am paying for my loan myself, do I need any guarantee/guarantor.

A: No. if you are paying for yourself you are not required to furnish details of a guarantor.

 

Q: Is it guaranteed that I will get the loan or my loan application will be approved?

A: All loan applications are sent to the loan processing centre. Generally a loan application is not rejected unless the information provided/documents uploaded are not correct/genuine.

 

Q: What happens if my loan application gets rejected?

A: Generally a loan application is not rejected unless the information provided/documents uploaded are not correct/genuine. Our application centre will refund your administrative fee immediately to you and inform you about the same to correct the objections marked by the loan officer to enable the application centre to reprocess your loan application.

 

Q: Is there any deadline to apply for loan under Study Now Pay Later?

A: The disbursal of loan is always connected with the commencement of the program; typically 2-3 days before the commencement of the program the loan application centre closes.