Anguilla - Guidance To Apply Student Loan
Designed to help students pay for university/college tuition, books, and living expenses, student loan differs from other types of loans with its interest rate substantially lower and repayment of the loan may be deferred while the student is still in school.
Following is a guide on how students can apply for a loan or seek financial aid in Anguilla.
Provide eligibility criteria's for going through this procedure.
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Applying for a loan trough private banks
Some banks in Anguilla offers student loans or loans to help you further your education. Get in touch with a bank representative to inquire if they offer this type of loan.
Government of Anguilla
The Government of Anguilla offers scholarship, training funds and financial assistance to eligible and deserving students. You may inquire about this program by using the contact details below.
To apply for a Government Financial Assistance you will need to complete an application with the following information (details may vary depending on the application form you are filling in):
- Aplicant's name
- Gender, place and date of birth
- Nationality /belonger status
- Religion, civil status, title
- Address of permanent residence, email address and contact numbers
- Family's income
- Educational record
- Job experience
- Course details
- Financial details
- Other sources of funding
- Legal details
- In reviewing loan applications, banks will usually take into consideration the applicant's character, capacity to repay the loan and ability to comply with the banks' condition. To help them evaluate your application, they might ask you to present some form of identification or evidence that you are currently enrolled in an educational institution.
- For banks to know how much you will need to borrow, they will need a computation of your tuition fees, accomodation fees if there's any, school materials etc. Banks may also ask you to provide information about your income/parent's income.
- Some banks may require you to present a guarantor to co-sign the loan agreement. Requirements for guarantors are usually someone of good standing, professional and with fix monthly income.
- Search online for banks that offers student loans in Anguilla. Get in touch with the bank to inquire about their application process and which documents do they require their applicants to submit. Make sure you can present and submit all the required documents that the bank is asking for.
- Check if you can start your application online. Some banks will ask applicants to complete a preliminary application online. After reviewing the application, a bank representative will contact the applicant to tell them where can they submit their application and what documents will they need to produce.
- Before you apply for a loan, carefully take note of the interest rate, conditions and repayment scheme that the bank is offering. Look into several banks and do some research regarding the banks application process. One thing that you also need to consider in choosing where to apply for a student loan is the bank's customer service, since this type of loan can take years of continuous correspondence between you and your bank, it will be much better if your bank has a good and accommodating customer service, this will save you from a lot of stress in the future.
- You may not need to accept the entire loan amount the bank is offering you. Since you will be paying back the loan sometime in the future, it will be more ideal if you will only borrow what you need.
Government of Anguilla
It will be better if you will get in touch first with the office of the government department in charge of reviewing applications for financial assistance / scholarship grants.
There are some forms provided on the 'documents to use' section. The forms provides information regarding:
- Documents to be submitted
- When to submit your application
There are also contact information that can be found on the form, take note of it in case you have further questions.
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Banks may ask the applicant to present the following, but is not limited to:
- Personal financial statement
- Bank statements
- Reference letters
- Evidence of employment
Explain the fees structure which is required for obtaining the certificate/document.
Explain the time until which the certificate/document is valid. e.g. Birth Certificate Valid Forever
- Application Form for Government Financial Assistance
- Application Form for Additional Financial Assistance
- Application Form for Government Financial Assistance UWI-ACC
- Application Form for Government Scholarship
Please attach sample completed documents that would help other people.
Please explain processing time taken in obtaining the document/certificate.
Department of Public Administration
P.O. Box 60
James Ronald Webster Building Second floor
The Valley, Anguilla
Telephone: 264 497 3045
Fax: 264 497 2751
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Videos explaining the procedure or to fill the applications. Attach videos using the following tag <&video type="website">video ID|width|height<&/video&> from external websites. Please remove the "&" inside the tags during implementation. Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, sevenload, viddler, vimeo, youku, youtube width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed. e.g In the following url "http://www.youtube.com/watch?v=Y0US7oR_t3M" Video ID is "Y0US7oR_t3M".
Enter other informations which might help
Please explain what are other uses of obtaining this document/certificate. e.g. Birth Certificate can be used as proof of identity.
- Government of Anguilla - Website:
More information which might help people.