Frequently Asked Questions

Getting started

1. Select funding preferences

Explore and choose the funding options that best align with your financial needs and educational goals.

2. Swift Approval Process

Submit your application and receive approval in a matter of minutes, ensuring a seamless experience.

3. Document Submission

Upload the necessary documents required to process your application, streamlining the verification process.

4. Confirmation from Edufund

Expect prompt communication from our dedicated team, you’ll receive a confirmation letter acknowledging your application.

5. Efficient Fund Disbursement

Sign the contract and get the funds.

6. Re-apply

If needed, reapply for additional funding, and our system will guide you through the process.

We do require you to provide us with 2 guarantors. This is a precautionary matter, and they will only be contacted if we do not receive a payment.

Should you have any queries or issues, please email us at applications@edufund.fund so we can work to help you.

Confirming your loan

For the applicant (borrower):
• Copy of passport or ID *
• Payslips of last 3 months
• Last annual income taxes
• Utility bills (to verify address) *
• Bank statements of candidate or close relative *
• Video presentation with reason of the funding program option
*Always required for the application. Remaining required only if applicable.
Once your application is accepted, you will receive an email confirming the approval of your loan which will contain your loan acceptance letter.
You can utilize your EduFund loan confirmation letter as proof of funding to support your F1 visa application. Please remember that this does not necessarily guarantee that your visa application will be successful.
Once you have received your acceptance email, you and your designated guarantors will be invited to e-sign your final loan agreement.
It's important that you let us know as soon as possible of any challenges in signing your loan agreement to avoid missing the deadline to sign.
If you or any of your guarantors are unable to meet the deadline or are having issues with e-signing your loan agreement, please get in contact with us as soon as possible. We cannot give any assurances that funds will still be reserved for you if you are unable to sign by the deadline provided to you.
Fixed interest - this is a flat rate. The interest rate you pay won’t change over time; as an example, if it’s 1.57% monthly, it’s always 1.57% monthly until you’ve repaid your loan in full.
EduFund calculates interest monthly based on the remaining balance of your principal. This ensures that you only pay interest on the outstanding principal amount each month.
Upon approval of your loan, EduFund will initiate the transfer of payment to the designated agency that is providing you with the corresponding program.

Paying back your loan

Payment instalments are due monthly. It is noted that placement agencies typically indicate an average visa processing duration of 90 days. Subsequently, you will commence payment instalments starting from the fourth month onwards.
For study programs, Payment instalments will start 40 days after the start date of your first course.
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