Icetex language development line abroad: what is it and how to apply?

The Colombian Institute of Educational Credit and Technical Studies Abroad (ICETEX) is a grant-making organization education loans at various rates and terms for that young Colombians have access to a higher education institution academically trained in your field of interest; Likewise, at the beginning of each semester or period, the beneficiary student must renew the credit for the individual payment.

According to what was reported by the Icetex, This must be done on specific dates and according to established standards. so that the process develops correctly and without problems.

Among the credits offered by the entity, there is a line dedicated to the development of languages ​​abroad, a goal of many students who They leave the country in search of new things academic skills and experiences.

As indicated on its website, this line of credit, which is financed for programs longer than 3 months and for a maximum of one year, is “directed to Colombian professionals with academic qualifications who has a basic knowledge of the language and they want to perfect it in an institution of academic repute abroad.”

Icetex’s overseas language development line

According to Icetex, This line of credit belongs to the language line and a CPI rate + 8%, which is equal to 1.39% per month (18.02%).

Requirements for application

• Being in Colombia.
• Get into a language program at an educational institution abroad, the course must be taken in a country of the same native language.
• If the applicant has received a loan with ICETEX, or has a loan with ICETEX, they must have paid at least 50% of the debt, be up-to-date on payments and continue to distribute their obligations according to their ‘ fixed payment plan.
• Accept a creditor with ICETEX who supports the student and signs the documents (Letter of Instruction and Promissory Note) that support the educational credit.
• Authorize ICETEX to consult, record and report credit history in the relevant bodies created for this purpose.
• Have a favorable financial and credit history.
• Not reported with a negative rating in any financial risk institution
• Both the student and the borrower must pay for the credit history check. The student makes this payment while completing the credit application form.

Funding

For a program lasting one (1) year, the student will pay 0% of the funded value while studying. Once the investigation period is over, you have up to five years pay 100% of the loan.

Keep in mind, just like with other lines of credit, You can pay this 100% through prepayments or capital payments at any time.

How to register?

• Enter the Icetex website
• Go to the ‘Credits’ tab and select ‘Languages ​​courses or internships’.
• Choose credit from ‘Line of language development abroad – you pay 0% of the loan, while you study‘.
• Click on the ‘APPLY YOUR CREDIT’ option on the line you prefer, and fill in the verification information, then fill in the information about all the modules of the credit application form.
• Select the ‘CREDIT CHECK’ option, where you will see all the information related to your education loan application and click on the ‘PAY’ button.
• Make the payment.
• After 24 hours of making the payment, check the result by entering the email sent to you for payment, click on the PAY button, which will direct to the page where it will show you the result of the background check.