Saudi Students Get Low-Cost Loans for U.S. Degree Programs

Talented Saudi students can now access affordable financing to earn American university degrees without leaving their home country.

The Social Development Bank added the University of New Haven to its education financing portal, enabling students to borrow up to 100,000 Saudi riyals (about $26,600) to study at the school's new Riyadh campus. The loans come with up to four years to repay and zero administrative fees.

The timing couldn't be better. The University of New Haven opens its first international branch this fall in Misk City, making it the first U.S. university to establish a campus in Saudi Arabia. Students can study business and digital innovation programs designed specifically to meet local job market needs while earning the same accreditation as degrees from the main Connecticut campus.

"Our goal is to make a University of New Haven education an accessible option for talented students across the Kingdom, including those who may not previously have considered it," said Jens Frederiksen, the university's president. The hands-on programs align with Saudi Vision 2030, the Kingdom's ambitious plan to diversify its economy beyond oil.

The financing opens doors for students who qualify based on merit rather than family wealth. Applicants must be at least 18 years old with monthly income under 14,500 riyals (about $3,900) to be eligible.

The Ripple Effect

This partnership represents more than just education access. By removing financial barriers, the initiative helps develop homegrown talent to build Saudi Arabia's knowledge economy. Students gain practical skills in emerging sectors while staying connected to their communities and culture.

The experiential learning model prepares graduates to lead industries critical to the Kingdom's economic transformation. Leo Lester, senior vice president of the Riyadh campus, emphasized that programs are "hands-on and industry-driven" to develop talents required by Vision 2030.

The Social Development Bank, one of Saudi Arabia's leading development finance institutions, focuses on empowering individuals and small businesses through accessible financing. This education initiative extends that mission to the next generation of professionals.

Students applying this year can already access the financing, giving them confidence to plan their academic futures knowing affordability won't stand in their way.