Saudi students considering undergraduate or master’s study at the University of New Haven, Riyadh can now access education financing of up to SAR100,000. The agreement with the Social Development Bank gives eligible students another way to manage the cost of higher education in the Kingdom.
The partnership is particularly significant because the University of New Haven, Riyadh is the first international university operating in Saudi Arabia to join the Social Development Bank’s education financing system.
For students and families, the arrangement could make an internationally accredited higher education option more accessible without requiring the full cost to be paid upfront.
How Education Financing Can Support Students
Under the agreement, eligible students can apply for education financing through the Social Development Bank’s education portal.
The financing can reach SAR100,000, with repayment spread over up to 48 months. The bank does not charge administrative fees, while the approved funds are transferred directly to the educational institution.
As a result, students can plan their higher education costs around a structured monthly repayment schedule.
The Social Development Bank’s education financing product is designed for students studying at institutions that have financing agreements with the bank. Applications and related procedures are completed digitally, so applicants do not need to visit a bank branch.
However, students must meet the bank’s eligibility requirements and secure admission to the relevant programme.
University of New Haven-Riyadh Joins Financing Network
The agreement was signed on 20 July 2026 at the Ministry of Human Resources and Social Development in Riyadh. Minister Ahmed bin Sulaiman Al-Rajhi, who chairs the Social Development Bank’s board, patronised the signing.
Abdullah bin Saad Al-Ruwais, the bank’s executive vice president for business, signed on behalf of the Social Development Bank. Leo Leister, senior vice president of the University of New Haven-Riyadh, signed for the university.
The partnership covers undergraduate and master’s programmes. It also expands the range of institutions available through the bank’s education financing system.
For families comparing higher education options, this gives students another potential route to fund internationally accredited study while remaining in Saudi Arabia.
What Students Can Study Through The Financing Route
The Social Development Bank currently lists University of New Haven programmes on its education financing platform. These include a Bachelor of Science in Artificial Intelligence for Business and Analytics and a Bachelor of Science in Marketing.
Meanwhile, the University of New Haven-Riyadh is opening its College of Business and Digital Innovation for its first cohort in autumn 2026. The campus is located in Misk City in Riyadh.
The university says its Riyadh campus has been approved by the New England Commission of Higher Education, or NECHE. The institution has held NECHE accreditation since 1948, with its accreditation extended through 2030. The Riyadh campus was approved by NECHE in March 2026.
This gives prospective students access to a US higher education model without having to leave the Kingdom.
What The Financing Means For Families
Higher education costs remain an important consideration when families assess university choices.
The University of New Haven-Riyadh lists tuition at SAR105,000 per year for the 2026-27 academic year for undergraduate and graduate programmes. The Foundation Year is listed at SAR60,000, with VAT applying to non-Saudi students at the prevailing rate.
Therefore, the maximum SAR100,000 financing available through the Social Development Bank could cover a substantial portion of annual tuition for eligible students. However, families should consider the full cost of study, including any applicable taxes, living expenses and other university-related costs.
The financing also does not remove the need for students to meet admission and bank eligibility criteria.
Supporting Saudi Arabia’s Higher Education Goals
Sultan bin Abdulaziz Al-Hamidi, CEO of the Social Development Bank, said the agreement supports the bank’s efforts to provide innovative financing solutions that help students continue their education and improve their academic and professional prospects.
He said the partnership also reflects the bank’s commitment to working with leading educational institutions to develop national capabilities and support the goals of Saudi Vision 2030.
The University of New Haven-Riyadh has similarly positioned the partnership around widening access to higher education and developing talent in Saudi Arabia.
Leister said the agreement would help expand access to internationally accredited higher education in the Kingdom and provide students with high-quality learning opportunities.
The bank said the partnership formed part of its wider efforts to expand access to education, support human capital development and contribute to the growth of a knowledge-based economy.
A New Option For Students Planning Their Next Step
The agreement gives eligible Saudi students another option when planning for university study.
Moreover, the digital application process and repayment period of up to four years could help families manage education costs more predictably.
For students interested in business, marketing and emerging technology fields, the partnership also connects financial support with programmes designed for the evolving labour market.
Ultimately, the agreement reflects a wider shift towards making higher education more accessible through partnerships between financial institutions and universities. For Saudi students, it could make studying at an international university in the Kingdom a more practical option.
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Further Reading
- Saudi Arabia’s Foreign University Expansion Gains Momentum with University of New Haven Riyadh
- US University of New Haven to Open First Saudi Campus in Riyadh This September