SDB supports students with new ‘Education Financing' product
This initiative aligns with SDB's efforts to enhance integration between educational and financial institutions via a unified digital platform. The platform enables students to submit applications and complete procedures quickly and easily through an integrated process that begins with academic and financial eligibility checks and ends with the direct disbursement of funds to accredited educational institutions.
The maximum financing amount available through 'Education Financing' is SR100,000 ($26,660), which can be disbursed either in installments or as a lump sum, depending on the nature of the academic program. The entire financing process is managed electronically, ensuring the highest standards of governance and data integration.
SDB's dedicated education portal provides a comprehensive digital platform that allows students to apply and enables educational institutions to review applications and verify eligibility. Funds are disbursed directly to these institutions, ensuring that support reaches eligible students and contributes to improving the quality of educational services in line with Saudi Vision 2030.
SDB has signed a strategic agreement with JeelPay — the first fintech company licensed by the Saudi Central Bank to provide education financing — to offer SR50 million in funding for students seeking to continue their academic journey. The agreement supports the 'Education Financing' product indirectly through a dedicated financing portfolio aimed at supporting students at the diploma, bachelor's, and master's levels using advanced financial technologies.
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6 minutes ago
- Arab News
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