AUFIN Loan is a curated collection of financial partners offering student loans to international students, without requiring collateral or a co-signer. With flexible repayment terms ranging from 1 to 20 years, AUFIN Loan is available exclusively for students applying to universities partnered with AUFIN.

🔍 What Is AUFIN Loan?

AUFIN Loan is designed to empower students to pursue higher education abroad without financial barriers. Whether you need funding for tuition fees, living expenses, or both, AUFIN Loan gives you the freedom to choose how you use your funds.

No co-signer. No collateral. No credit history required. Just your future potential.

🌟 Benefits of Using AUFIN Loan

Emergency Funding Option
Use the loan for tuition, living costs, or both—based on your needs.
Flexible Repayment System
Choose a repayment plan that fits your financial situation.
Independent Application
Apply without involving family or friends. You take full responsibility.
No Credit History Required
Your loan eligibility is based on your future earning potential, not your past.
Repayment Grace Period
Start repayments 6 months after graduation (for full-time studies).

🧠 How Does AUFIN Loan Assess Your Eligibility?

AUFIN Loan partners evaluate your application based on:

Criteria	Description
Interest Rate	Tailored to your financial profile
Loan Amount	Based on your future earning potential
Approval Rate	Based on academic and career potential
Grace Period	6 months after graduation

📖 Understanding Your AUFIN Loan Offer

Once you receive your AUFIN Loan offer, it’s important to understand the key components that determine your loan terms and repayment expectations. Here's a breakdown of what each part means:

🔹 Base Rate

This is the variable portion of your interest rate. It fluctuates based on market conditions and may change over time. For example, you might pay 11.85% interest during one period and 9.5% during another. The base rate is influenced by global financial trends and is updated periodically.

🔹 Margin Rate

This is the fixed portion of your interest rate, determined by AUFIN’s finance partners based on your application profile. Unlike the base rate, the margin rate remains constant throughout the life of your loan.

🔹 Interest Rate

Your total interest rate is the sum of the base rate and the margin rate. AUFIN Loans use simple interest, meaning interest does not compound over time. This makes it easier to understand and predict your repayment amount.

🔹 APR (Annual Percentage Rate)

APR represents the total cost of borrowing, including interest and all applicable fees. It’s usually higher than your stated interest rate because it accounts for processing fees and any compounding effects. Use APR to compare loan offers from different lenders, it gives you the most accurate picture of the true cost.

⏳ Loan Repayment Term

Your repayment term refers to how long you’ll be making regular payments. AUFIN Loan terms vary, typically between 1 to 20 years, depending on your financial profile and chosen repayment plan.

Grace Period: You won’t need to start repayments immediately. For full-time studies, repayments begin 6 months after graduation.
Early Repayment: You can repay your loan early without penalties. Paying off your loan sooner means you’ll pay less interest overall.

💰 Pre-Approved Amount

If your offer includes a pre-approved amount for future academic periods, it means AUFIN has conditionally approved funding for your next semester or year. However, you’ll need to submit a new application before the next academic period begins.

Why a new application?

AUFIN and its finance partners reassess your financial situation to ensure:

You’re not over-indebted
Your credit profile remains stable
Your declared savings are still available
Your employment status (for part-time students) hasn’t changed

This process helps protect your financial health and ensures you can complete your studies without financial stress.

📁 What Documents Do You Need to Finalize Your AUFIN Loan?

Once you’ve accepted your provisional AUFIN Loan offer, a task will appear on your dashboard prompting you to verify your identity and upload supporting documents. These documents help confirm your eligibility and ensure your loan is processed smoothly.

Here’s what you’ll need:

🔹 Identity Verification

You’ll be guided through an automatic identity verification process. Follow the system prompts to complete this step:

Valid Passport: Upload a clear color scan or photo of the identification page.
Selfie: Take a selfie to match your passport and confirm your identity.

🔹 Proof of Address

This document must:

Clearly show your full name and residential address
Be dated within the last 3 months
Match the address provided in your application

Accepted documents include utility bills, bank statements, or government-issued letters.

🔹 School Admission

Provide one of the following:

Admission letter
I-20 form
Official email from your university

The document must include:

Your full name
University name
Course title
Intake period
Confirmation of acceptance

🔹 Credit Report

Submit a credit report from a recognized credit reference agency in your country. If you’ve never taken out credit, you can provide a “No hit” or “No data” report instead.

🔹 Income Proof (if applicable)

Depending on your study mode, here’s what you’ll need:

Pre-study (Full-time students):
- 3 months’ salary slips (dated within the last 6 months)
- 1 matching bank statement
Post-study:
- Signed employment contract confirming your future job
Part-time students:
- 3 months’ salary slips (dated within the last 4 months)
- 1 month’s bank statement

🔹 Savings or Family Contributions

If you declared savings or family support in your application, you’ll need to provide:

Savings account statements showing available funds
Proof of contributions from family (including their bank statements and a completed contribution form)
Proof of payments already made to your school, along with confirmation from the institution

🔹 Sponsorship or Scholarship Confirmation

Submit an official letter from your sponsor or scholarship provider. The letter must:

Be on official letterhead
Include your full name
Match the amount declared in your application
Be in a non-editable format (e.g., PDF)

If you’ve been granted in-state tuition, provide a letter confirming this status with all relevant details.

🤔 If I Accept My AUFIN Loan Offer, Am I Locked In?

No, you're not locked in.
When you accept your AUFIN Loan provisional offer, it simply means you're ready to move forward with your application and begin uploading your supporting documents. The offer is non-binding and conditional, giving you flexibility throughout the process.

🔄 Can I Make Changes or Cancel My Loan?

Yes! You can:

Withdraw your application at any time before signing the final loan agreement.
Request changes to your loan amount or terms by contacting the AUFIN team.

⏳ How Long Is the Provisional Offer Valid?

Your provisional offer is valid for 14 days. If you don’t accept it within that time, your application will expire, and you’ll need to submit a new one. Please note that the new offer may differ from the original.

🏫 Can I Apply If I Haven’t Been Admitted Yet?

Yes, you can!
AUFIN Loan allows you to apply and receive a customized quote even before you’re admitted to a university. You can submit multiple applications to explore funding options for different schools or programs.

Once you receive your admission letter, you’ll upload it to your dashboard to proceed with document verification.

🛑 Is There a Penalty for Cancelling My Loan?

No penalty before signing.
You can cancel your loan application at any time before signing the final agreement. If you’ve already signed the agreement, you still have 14 days to withdraw without penalty.

If the funds have already been sent to your school:

AUFIN Loan Partner will work with your school to return the funds.
Once returned, your loan will be cancelled and any associated costs will be reviewed.

🔁 What If I Want to Cancel After the 14-Day Period?

If more than two weeks have passed since signing:

The loan agreement becomes official.
Funds will have been disbursed to your school.
You’ll need to work with AUFIN Loan Partner and your school to return the funds.
Any future disbursements must be cancelled directly with your school.

💡 You can still settle your loan early at any time by paying the full amount plus any accrued interest.

📊 What’s the Difference Between APR and Interest Rate?

When comparing student loan offers, it’s tempting to focus on the lowest advertised interest rate, but that number doesn’t always tell the full story. To truly understand the cost of borrowing, you need to look at the APR (Annual Percentage Rate).

🔹 What Is APR?

APR represents the total cost of borrowing over a year. It includes:

The interest rate
Fees (such as processing or admin fees)
The effect of any compounding

Because it includes all costs, APR is always higher than the interest rate. It’s not the rate at which interest accrues monthly, it’s a comprehensive annual measure.

💡 Use APR to compare loan offers from different lenders.
Lenders regulated in the UK or US are required to disclose APR.

🔹 What Is the Interest Rate?

The interest rate is the annual percentage used to calculate how much interest you’ll pay on your loan. It does not include fees or compounding effects.

AUFIN Loan uses simple interest, meaning:

Interest does not compound over time
Your repayment amount is easier to understand and predict

The interest rate is made up of two parts:

Fixed Margin – Set by AUFIN’s finance partners based on your profile
Variable Base Rate – AUFIN uses the 30-Day Average SOFR benchmark as the base rate, which may fluctuate with market conditions

🧠 Why Does This Matter?

When choosing a loan, don’t just look at the interest rate. A loan with a lower interest rate but high fees might cost more than a loan with a slightly higher interest rate but fewer fees.

APR gives you the full picture.
It helps you make smarter financial decisions and avoid hidden costs.

📉 What Is the Base Rate in AUFIN Loans?

When it comes to student loans, understanding how your interest rate is calculated is key. AUFIN Loans use variable interest rates, which means your rate can change over time. This fluctuation is tied to something called the base rate.

🔹 Types of Interest Rates

There are two main types of interest rates:

Fixed Interest Rate
Stays the same throughout the life of the loan.
Variable Interest Rate
Changes over time based on market conditions. AUFIN Loans use this type.

🔹 What Is a Base Rate?

The base rate is a benchmark interest rate set by financial institutions or regulatory bodies. It reflects broader market conditions and can change daily, monthly, or periodically depending on economic factors.

Your variable interest rate is made up of:

Your Personal Margin – A fixed percentage based on your financial profile.
The Base Rate – A variable component that fluctuates with the market.

Example: You might pay 11.85% interest during one period, and 9.5% during another, depending on how the base rate moves.

🔹 Which Base Rate Does AUFIN Use?

AUFIN Loans follow the 30-Day Average CME Term SOFR (Secured Overnight Financing Rate) as the base rate. This replaced LIBOR (London Interbank Offered Rate) starting January 8, 2024, following global financial reforms.

SOFR is:

Transparent
Market-driven
Widely adopted in the US and UK

🔹 Who Sets Base Rates?

Base rates are set by:

Central banks (e.g., SELIC in Brazil, MCLR in India)
Independent financial institutions (e.g., SOFR in the US, Euribor in the EU)
Commercial banks (e.g., Prime rate in the US and Japan)

These rates are influenced by:

National fiscal policies
Inflation
Global economic trends

🔄 How Often Do Base Rates Change?

It depends on the rate:

SOFR: Updated daily based on overnight lending data
MCLR: Reviewed monthly
Prime Rate: Adjusted periodically, often in line with central bank decisions

AUFIN Loans reflect these changes in your monthly statements and loan agreement. You can:

Check your loan agreement via your AUFIN dashboard
Review monthly statements in the AUFIN app (iOS/Android)

📈 What Is SOFR and Why Does It Matter for Your AUFIN Loan?

When you receive an AUFIN Loan offer, your interest rate is made up of two parts:

A fixed margin rate (based on your personal financial profile)
A variable base rate, which is currently the 30-day average SOFR

Let’s break down what SOFR means and how it affects your loan.

🔹 What Is SOFR?

SOFR stands for Secured Overnight Financing Rate. It’s a benchmark interest rate based on what large financial institutions pay each other for overnight loans (also known as repos). It is:

Published daily by the Federal Reserve Bank of New York
Transparent and market-based
Chosen by the Alternative Reference Rates Committee (ARRC) as a replacement for LIBOR

In 2017, the UK’s Financial Conduct Authority (FCA) endorsed SOFR as a more reliable and sustainable benchmark.

🔹 How Is SOFR Used in AUFIN Loans?

AUFIN Loans use the 30-day average SOFR, which means:

Your base rate is calculated as the average of SOFR over the past 30 calendar days
This average smooths out daily fluctuations and provides a more stable rate

🔹 Why Does SOFR Change?

SOFR is influenced by macroeconomic conditions, such as:

Inflation
Central bank policies
Market liquidity

As a result, your loan’s interest rate may increase or decrease over time depending on how SOFR moves.

🔹 What’s the Historical Average?

Over the past 6 years, the average SOFR has been around 1.5%, though it can vary significantly depending on global economic trends.

🔹 What Should You Keep in Mind?

All variable-rate loans are tied to a benchmark like SOFR
SOFR may rise or fall, so it’s important to consider long-term trends
You only start repaying your AUFIN Loan 6 months after graduation (or 3 months after disbursement for part-time students)
You can repay early anytime with no penalties, which can help reduce interest costs

💸 What Are Non-Debt Funds in AUFIN Loan Applications?

Sometimes, AUFIN may not be able to offer the full loan amount you requested. In such cases, you’ll be asked to cover the remaining cost using non-debt funds.

🔍 What Are Non-Debt Funds?

Non-debt funds refer to any source of money that you don’t have to repay. These funds help ensure that you can afford your education without taking on excessive debt.

AUFIN asks for non-debt funds to:

Confirm you have enough financial support
Prevent over-indebtedness after graduation
Ensure your budget is realistic and sustainable

📋 Examples of Non-Debt Funds

You can provide any of the following:

Personal savings
Bank statements showing available funds
Scholarships
Official award letters from institutions or organizations
Sponsorships
Letters from sponsors confirming the amount and terms
Family or friend contributions
Supporting documents such as bank statements and a completed contribution form
Payments already made to your school
Upload proof of payment and confirmation from your university

✅ Why Are Non-Debt Funds Important?

AUFIN Loan is designed to support your education responsibly. By combining loan funding with non-debt funds, you:

Reduce your total debt burden
Show financial readiness
Increase your chances of loan approval

🏦 Which Banks Can I Use to Receive Living Expenses in the UK and France?

If your AUFIN Loan includes living expenses, you’ll need to link a local bank account in your country of study to receive the funds. AUFIN, through its finance partners like Prodigy Finance, supports a wide range of banks in both the United Kingdom and France.

🇬🇧 Supported Banks in the United Kingdom

You can securely link your UK bank account through AUFIN’s trusted partner. Supported banks include:

Barclays
HSBC
Lloyds Bank
NatWest
Royal Bank of Scotland
Santander
Monzo
Starling
Chase (UK)
Nationwide Building Society
Tesco Bank
Revolut
First Direct
Halifax
Metro Bank
The Co-operative Bank
C. Hoare & Co
Arbuthnot Latham
Cater Allen
Coutts
Mettle
Tide
…and many more.

🇫🇷 Supported Banks in France

AUFIN also supports a wide range of French banks and digital institutions:

BNP Paribas
Société Générale
Crédit Agricole
La Banque Postale
Crédit Mutuel
CIC (Crédit Industriel et Commercial)
Banque Populaire
BRED Banque Populaire
BoursoBank
N26
Qonto
Revolut
Wise
Hello bank!
Helios
Le Crédit Lyonnais
AXA Banque
BBVA
CanB
Cofidis
Deutsche Bank
Banque de Savoie
…and others.

🔐 Secure Linking & Verification

All bank accounts are linked securely via AUFIN’s trusted partner.
Your login credentials are never stored or visible to AUFIN or its partners.
Once your account is linked and verified, living expenses will be disbursed directly to your bank account.

🏦 Setting Up a Zolve Bank Account for AUFIN Loan Disbursement in the U.S.

AUFIN Loan, through its finance partner, has partnered with Zolve, a trusted global banking platform designed specifically for international students. With Zolve, you can open a U.S. bank account from your home country, even before you arrive in the United States.

🔹 Why Use Zolve?

Receive living expenses directly into your Zolve account
Set up auto-debit payments for your loan
No need to wait until arrival—get started before you travel
Designed for international students, with easy onboarding

📝 How to Set Up Your Zolve Account

Redirect from AUFIN Dashboard
If you don’t have a Zolve account, you’ll be redirected to Zolve’s website before signing your loan agreement.
Submit Required Documents
You’ll need:
- A valid passport
- A student visa document
Download the Zolve App
Complete your account setup and authentication through the app.
Continue Your Loan Application
Once your Zolve account is verified, you can proceed with the next steps of your AUFIN Loan application.

🔐 Important Notes

AUFIN do not manage Zolve account setup.
Zolve is the official provider of the bank account and handles all onboarding and support.
No guarantees or warranties are made by AUFIN regarding Zolve’s services or performance.

✅ What’s the Next Step Once Your AUFIN Loan Is Approved?

Congratulations! If your AUFIN Loan has been approved, you're one step closer to funding your education. Here’s what happens next depending on where you’ll be studying:

🇺🇸 If You’re Attending a School in the United States

Once you accept your loan match, your loan is officially approved. The next step is for your school to certify your application. This means your university confirms your enrollment and tuition details before AUFIN disburses the funds.

🌍 If You’re Attending a School Outside the U.S.

Your school will inform AUFIN when they want to receive the funds.
Because of this, you cannot change the disbursement date or split.
After you accept your match, AUFIN will finalize your loan.
Shortly before disbursement, your loan agreement will be available for e-signing.
Once signed, AUFIN will countersign and send the funds directly to your school.

💸 What About Living Expenses?

If you qualify for living expenses and are studying outside the U.S.:

AUFIN will send your living expenses directly to your personal bank account.
This happens one month after your tuition payment is sent to your school.

🕒 What If My School Hasn’t Received the Funds?

After AUFIN sends the funds, it may take 3–5 business days for your school to allocate them to your student account.
If 10 business days have passed and the funds still haven’t been reflected, contact AUFIN immediately.

🛂 Can I Use My AUFIN Loan to Apply for My Visa?

Yes, you can! Once your AUFIN Loan application has been successfully matched to funding, you’ll receive a Letter of Approved Funds. This letter can be used as supporting documentation during your student visa appointment.

⚠️ Please note: While this letter confirms your loan approval, it does not guarantee that your visa will be granted. Visa decisions are made solely by the immigration authorities of your destination country.

📄 Where Can I Find My Loan Confirmation Letter?

Once your Loan is approved, you’ll receive a Loan Confirmation Letter (also known as a sanction letter). This document confirms that your loan application has been officially approved and can be used to support your I-20 application and student visa appointment.

🔹 Types of Loan Confirmation Letters

Conditional Loan Confirmation Letter
Available after your identity is verified. Can be used for visa and I-20 purposes, but some schools or visa offices may require the final version.
Final Loan Confirmation Letter
Available after your documents are verified and you’ve paid the USD 500 processing fee to reserve your funds. This is the official letter confirming your loan approval.

🧾 What Does It Mean If My Loan Is Being Certified?

If you’ve received a notification that your Loan is being certified, that’s a great sign, you’re in the final stages before disbursement! But what exactly does certification mean?

🔍 What Is Loan Certification?

Certification is a process required in the United States to protect student borrowers. Before AUFIN (via Prodigy Finance) can send your loan funds to your school, the school must review and approve the loan details.

🏫 What Does the School Do During Certification?

Your school will:

Verify the loan amount to ensure it aligns with your tuition and living expenses
Review your full financial profile, including other funding sources (like scholarships or personal savings)
Confirm that your total funding is appropriate and not excessive

This ensures you’re not borrowing more than you need and helps prevent over-indebtedness.

💰 When Do I Get My Loan Funds?

Once your Loan is approved, the next big question is: when will the money arrive? The answer depends on your school’s location and their internal processes.

🇺🇸 Attending a School in the United States

After your loan is certified by your school, they will inform AUFIN when they expect to receive the funds.
AUFIN will set a preliminary disbursement date based on this.
If you have a special circumstance and need to change the disbursement date, contact AUFIN or your school’s Financial Aid Office.

📌 Important:

Last-minute changes to your loan may delay disbursement.
Late disbursement could result in late fees from your school.

🌍 Attending a School Outside the U.S.

Disbursement dates cannot be changed.
Your school will inform to us when they’re ready to receive the funds.
We will send your loan alongside other students’ disbursements.

🔄 How Will I Receive My Funds?

Tuition and living expenses are sent directly to your school.
If your loan includes living expenses, your school will:
- Use the funds to pay your tuition first
- Then transfer the remaining amount to your personal bank account

💡 Coordinate with your Financial Aid Office to confirm the timing of your living expense transfer.

📅 When Are Funds Paid?

Your school sets the expected disbursement date.
AUFIN aligns its disbursement as closely as possible to that date.
No funds will be released until you e-sign your loan agreement.

⏳ How Long Does It Take?

After signing your loan agreement, AUFIN releases the funds.
It takes 3–5 business days for the funds to reach your school’s account.
Allow a few extra days for your school to allocate the payment to your student account.

🙌 How Can I Apply for an AUFIN Loan

Step 1: Apply Online

Apply and Submit your application for any AUFIN-supported university. Then, let your counselor know that you’d like to use a loan to support your education.

👉 Check here if your university is supported

Step 2: Get Your Offer

Receive a non-binding provisional offer, valid for 14 days.
This offer includes your estimated loan amount, interest rate, and repayment terms.

Step 3: Document Verification

Accept your offer and upload the required documents.
Once verified, your application will be matched to available funding.

Step 4: Loan Confirmation

After your loan is matched, you’ll confirm your acceptance and pay a USD 500 processing fee.
This is the only upfront fee required to finalize your loan.

Step 5: Final Steps Before Disbursement

Monitor your Loan dashboard and email for any final tasks.
AUFIN Loan will guide you through everything needed to prepare for disbursement.

Step 6: Sign Your Loan Agreement

Once you arrive on campus, you’ll digitally sign your loan agreement.
AUFIN Loan will then send the funds directly to your school.

AUFIN Loan for International Student