American University of Armenia has teamed-up with Byblos Bank Armenia to offer heavily subsidized student loans for its graduate students and undergraduate students in their junior and senior years of study.

Main Terms:

  • Interest rate – 5% per annum, calculated on the residual loan balance
  • Amount – AMD100,000 minimum, up to 80% of the annual tuition
  • Loan duration – period of studies at AUA stated in the education contract + 36 months
  • Grace period – period of studies at AUA stated in the education contract + 6 months
  • Loan repayment – interest only during grace period, interest + principal thereafter
  • Penalties – none for early repayment, 24% annual on overdue interest or principal
  • Eligibility – full-time graduate and junior/senior undergraduate students in good academic standing with good credit history of self and two guarantors
  • Disbursement – once per semester, to the AUA bank account

How to Apply:

Express your interest through writing an e-mail to [email protected], with a subject title “Byblos Bank AUA Student Loans”, indicating your name, department, student ID number and the amount of loan you would like to be considered for.  Expressions of interest for loans towards the 2022-2023 academic year tuition are accepted by September 4, 2024.

AUA Office of Financial Aid will perform initial review of the applications and submit the list of eligible students and recommended loan amounts to the issuing commercial bank by September 15th of the academic year.  Recommendations will be made based on availability of funds.  It is not guaranteed that all loan requests will be met.

Loan applicants must submit a loan application package to the Byblos Bank Armenia within five business days after they receive a notification from the AUA Office of Financial Aid stating that their expression of interest has been forwarded to the commercial bank.  Click here for the list of documents to be included in the application package.  The commercial bank will review the application within three business days after receiving the complete package and if the loan is approved will disburse the loan amount to the bank account of the American University of Armenia before the 30th of the first month of the academic semester.


[1] Student loans replace deferred payment option administered by AUA. The latter are discontinued for graduate students effective academic year 2017-2018 and for junior/senior undergraduate students effective academic year 2018-2019.