MOROCCAN STUDENTS ABROAD
Repayment of student and consumer loans loans
Banks may repay loans taken out by Moroccan students abroad (up to the outstanding amounts) to foreign banks, provided that these loans are used exclusively for the purpose of studying abroad. Repayments of consumer loans are also possible for Moroccans who have resided abroad and have returned to Morocco permanently.
Payments must be made in accordance with the provisions in force (bank transfers to overseas destinations, credits to accounts held in foreign currencies or convertible dirhams, international postal orders, etc.).
To repay loans intended exclusively to fund studies abroad, the following documents must be submitted to the account-holding bank:
- A copy of the duly drawn up credit agreement or any other document serving as such, specifying the purpose of the credit;
- Loan repayment schedule, showing the outstanding balance;
- Certificates of enrolment for the academic years falling within the period covered by the funding;
- A statement from the lender setting out the payments due in the event of early repayment.
