It is not unusual that loans are available for real estate and personal property from lending institutions at market interest rates. It is news when a University develops a low-interest loan program for students who want to get an education but lacks the financial resources to do so, or does not qualify for a scholarship.
The new AUPP loan program is available for 2015 high school leavers who score an A, B, or C on the National High School Leavers Examination but do not qualify for a financial need based scholarship, yet want to attend AUPP.
According to Dr. Sharon Siverts, President of AUPP, this loan program is one-of-a-kind for students entering AUPP in October 2015. A student can acquire a loan for up to 60% of the cost of tuition per semester, subject to University Loan Criteria, paying only 40% of the semester tuition. A loan can be of a lesser amount. The tuition per semester at AUPP is $4500. If one borrowed the full 60% ($2700) per semester, one would only pay $1800 a semester. In addition, a student would be required to pay 5% interest on the amount borrowed per year.
The total amount of the loan borrowed would be due and payable only after graduation, and once the student is employed. The payback would be 50% of the monthly salary to the University until the loan is repaid.
Dr. Siverts continues, “This is the most generous loan program that I have seen in all my years in higher education. This loan program allows qualified students to attend AUPP. AUPP is committed to give the youth of Cambodia an opportunity to acquire a high quality education in Cambodia, equivalent to that of the U.S. at a fraction of the cost of going to school in the U.S.”
AUPP offers Bachelor degree programs in Law, Global Affairs, Information Technology Management and Business. The goal of all programs is to prepare students to be global citizens, with the critical thinking, analytical and teamwork skills needed by the public and private sectors. AUPP provides a strong foundation in the humanities, social and natural sciences for students to be leaders in their profession, whether in Cambodia, the Southeast Asian region or the world. AUPP offers all its programs in English, thus, improving the competitiveness of graduates within the ASEAN region.