Sagicor Bank Student Loan for Tertiary Education-Jamaica

The Sagicor Bank Student Loan assists students who are employed and pursuing either an undergraduate or graduate degree, part time or full time, with tuition and books as well as computers.

Loan Amount

You make take out a maximum of Jamaican Dollar 1 Million for post-graduate studies and finance up to 75% of the maximum amount. If you graduate from your program with honors, you will be able to get a 1% rebate off of your loan rate.

Fees

Base rate for unsecured loans is 16% annually based on credit history and always subject to change.

Repayment and Deferment

You will have up to four years to repay your loan. During the first 12 months of your study period, you will only need to make interest payments. After that time, you will pay your full monthly rate.

Application Process

As a Jamaican national, you may apply for an Sagicor Bank loan by calling a credit specialist at 876-960-4722. You will need to supply:

  • One form of identification (i.e., Driver’s Licence, National ID, or passport)
  • Taxpayer Registration Number (TRN)
  • Job letter (stating years of service and annual remuneration) and the last 3 months’ pay slips (applicants must have a confirmed permanent employment status)
  • Evidence of acceptance/enrolment in programme (i.e., tuition letter and payment vouchers)
  • Status report on each existing loan facility not held with Sagicor Bank
  • Two references (names, addresses, and telephone numbers), including one from a family member not living with you
  • Addresses over the last 2 years
  • Non-Sagicor Bank customers: current or savings account statements for the last 12 months

Scotia Bank Student Loan-Trinidad & Tobago

The Scotia Bank Student Loan offers part-time postgraduate students funding to cover tuition, books, and other educational expenses.

Loan Amount

With this loan, you may take out a maximum amount of Trinidad and Tobago Dollars 450,000.

Fees

Please call or visit your local Scotia Bank branch to find out the current interest rate since this rate can fluctuate from time to time.

Repayment and Deferment

While you are enrolled in your program, you will only need to pay interest on your loan, though you may choose to voluntarily pay toward the principal during this time. Six months after graduation you will need to begin paying on the principal. You must repay your loan within 10 years.

Application Process

To apply, you must visit your local branch of Scotia Bank. You will need to provide:

  • Proof of earning or income
  • A letter of acceptance from the relevant institution for the academic year and
  • Indication of the costs to attend