The Student Revolving Loan Fund grants loans to eligible residents of Barbados to assist in financing their educations in areas of study which are perceived to be of national priority. The Student Revolving Loan Fund is available to students who plan to or are currently pursuing full-time as well as part time and distance studies.
Depending on your program of study and where you complete your studies, your loan amount will differ as follows:
|Undergraduate programs:||up to BBD 100,000|
|Graduate programs—Master’s, one year or less:||up to BBD 50,000|
|Graduate programs—Master’s, greater than one year:||up to BBD 100,000|
|Post-graduate programs—MPhil/PhD:||up to BBD 100,000|
Interest is charged 1.5% percent above the minimum savings rate, which is currently 2.5%. Interest starts to accrue at the above rate at the end of your stipulated study period.
After completing your studies, you will have a flexible repayment period ranging from 3-25 years, depending on the borrowed amount.
To apply, you will need to fill out a paper application and submit the following that apply:
You will then need to make an appointment to complete the application process. You can either visit the website, call 430-2867/71 or 429-2912/13, or email email@example.com to schedule your appointment.