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Antigua and Barbuda - Guidance To Apply Student Loan

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ProcedureEdit

National Student Loan Fund (NSLF)

When to apply: Annual application period begins in March and ends in May. Loan approval and related interviews will take place between June and July and disbursements will commence in August.

Applying for a loan: Use the contact information below to get in touch with Student Fund Committee to inquire about documents needed to be submitted and the application process.

All recipients of loans are required to sign a loan agreement stating the amount of the loan and the repayment schedule, as well as a bond mandating a return to Antigua & Barbuda to work for at least two (2) years.



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Required DocumentsEdit

List down the documents required for successfully completing the procedure.

e.g.
1. Proof of child birth from the Hospital.



Office Locations & ContactsEdit

National Student Loan Fund
c/o Ministry of Finance, the Economy and Public Administration
Government Office Complex
Parliament Drive
St. Johns, Antigua
Phone: (268) 562-7483
(268) 462-4860/1
(268) 462-1622/5093
Email: [email protected]



EligibilityEdit

Student loan program of the Government of Antigua and Barbuda - National Student Loan Fund (NSLF): Persons must be citizens of Antigua & Barbuda, eighteen (18) years of age and older. They must also be accepted to or already enrolled in a programme of study offered by an eligible educational institution.

Eligible Institutions are those that are legitimately accredited as formal educational institutions locally, regionally and internationally.

  • Undergraduate Studies, Graduate Studies, Post Secondary/Technical Education, and
  • Vocational Education (Full-time, part time and distance programmes)


Special consideration given to applicants:

  • From single parent households
  • From households with few erners and high demand ratio
  • From large households (e.g. two (2) adults and three (3) children below the age of eighteen (18) )
  • Without assets (e.g. land and / money savings)
  • Whose parents are disabled or indigent



FeesEdit

Explain the fees structure which is required for obtaining the certificate/document.



ValidityEdit

Repayment programs:

Students can choose between these three (3) options to repay their loan:

  1. Make payments of Principal and Interest while studying.
  2. Make payments of Interest only while studying.
  3. Defer payments of Principal and Interest until after the completion of studies.

The loan received from the NSLF can be repaid within a time frame of up to 10 years.

If you encountered any problems or finds it difficult to fulfill your loan obligations you must immediately let the Student Loan Advisory Committee know of your situation in order to avoid penalties being imposed, such as late fee charges.



Documents to UseEdit

Informational Brochure (PDF)



Sample DocumentsEdit

Please attach sample completed documents that would help other people.



Processing TimeEdit

Please explain processing time taken in obtaining the document/certificate.



Related VideosEdit

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".



InstructionsEdit

National Student Loan Fund (NSLF)

Antiguan and Barbudan students who wish to undertake various courses of study and who will ultimately contribute to the economic and social development of Antigua and Barbuda can apply for a loan to help cover the cost of their school expenses. Loans coming from the National Student Loan Fund (NSLF) carries a much lower interest rate making it easier for students to repay their loan.

  • Interest Rate: In order to ease the pressure on the student, the interest on a loan is calculated at only 3% per annum.
  • No collateral needed
  • Maximum amount you can borrow: EC $50,000.00. Applicants must consider NSLF as a supplementary fund and not as the main source of funding for their studies especially if the student is just beginning a course of study.
  • Surety: He/she must be an employed person living in Antigua & Barbuda. The one signing as a surety must also be in a position to assist in the repayment of obligations where necessary.


Student Loan Advisory Committee (SLAC)

The Committee is in charge of reviewing and approving applications for student loans. The Committee also provides guidance/advice to applicants if needed.



Required InformationEdit

A list which displays the kind of information which is required to complete the procedure.
e.g.
1. Date of Birth.
2. City or County of Birth.



Need for the DocumentEdit

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.



Information which might helpEdit

Enter other informations which might help



Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.



External LinksEdit

  • National Student Loan Fund:
http://nslf.gov.ag/index.php/about_nslf



OthersEdit

More information which might help people.


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