Education Loan Proposal
Prepared by: [Your Name]
Prepared for: FutureBank Financial Services
1. Introduction
This Education Loan Proposal is submitted to secure a loan to finance higher education. The applicant intends to pursue a Master’s degree in Business Administration (MBA) at Global University, and this loan will assist in covering tuition fees, living expenses, and additional costs associated with the program. The loan request is for an amount of $50,000.
2. Borrower Information
Details | Information |
|---|
Name of Borrower | [Your Name] |
Date of Birth | June 15, 1950 |
Contact Information | Phone: 222 555 7777
Email: [Your Email] |
Address | 1234 Elm Street, Springfield, IL 62701 |
Educational Background | Bachelor's Degree in Economics from Springfield University, graduated with honors in 2070. Completed various certifications in project management and data analysis.
|
Course to be pursued | Master of Business Administration (MBA) |
Educational Institution | Global University |
Duration of Course | 2 years (2075-2077) |
3. Purpose of Loan
The purpose of the loan is to finance the following expenses:
Tuition Fees: $35,000
Books and Supplies: $2,000
Accommodation and Living Expenses: $10,000
Travel Costs (round trip to university): $2,000
Miscellaneous Expenses (health insurance, etc.): $1,000
4. Loan Amount Requested
Total Loan Amount Requested: $50,000
Loan Term: 5 years
Interest Rate: 5% per annum (fixed)
Repayment Schedule: Monthly payments after the course completion, starting from January 2028.
5. Educational Institution Details
Institution Name: Global University
Course Name: Master of Business Administration (MBA)
Location: 200 University Avenue, New York, NY 10001, USA
Accreditation Status: Accredited by the AACSB (Association to Advance Collegiate Schools of Business)
Expected Graduation Date: May 2077
6. Financial Details
Total Cost of Education: $50,000
Scholarships or Financial Aid (if applicable): $10,000 merit-based scholarship awarded by Global University.
Personal Contribution: $5,000 (savings from part-time work)
Other Financial Support: None
7. Loan Repayment Plan
Repayment Start Date: January 2028
Monthly Payment Amount: $900
Loan Tenure: 5 years
Prepayment Options: Borrower can make early payments with no penalty after the first year of the loan.
Co-signer Information: None
8. Supporting Documents
The following documents are attached to support this Education Loan Proposal:
Admission Letter from Global University
Cost Breakdown from Global University
Bachelor’s Degree Certificate from Springfield University
Proof of Identity (Passport)
Proof of Residence (Utility Bill)
Bank Statements (showing personal savings)
9. Conclusion
We respectfully request FutureBank Financial Services to consider this Education Loan Proposal for [Your Name]. The applicant is committed to his studies and demonstrates financial responsibility through his contribution and a well-structured repayment plan. The loan will enable the applicant to complete their MBA, furthering their career in business leadership.
We look forward to a favorable response and are happy to provide any additional information or documentation as required.
Signature of Borrower:
Date:
Proposal Templates @ Template.net
