Bahamas - Apply for Educational Loans

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Procedure

Apply In-Person

1. The Applicant must submit a letter of request and supporting documents to the immediate supervisor.
2. Visit the following Details Contact Link.
3. After that, the letter of request and supporting documentation are sent to the Human Resources department (HR).
4. The letter and supporting documentation are then sent to the Permanent Secretary / Head of Department by the HR section.
5. The letter and supporting documentation are then sent to the Department of Public Service for review.
6. The Permanent Secretary and Minister of the Department of Public Service will review the request.
7. The information is transferred to the Accounts Section for processing once it has been accepted.
8. The voucher is prepared and submitted to the Department of Public Treasury.
9. The permission or denial is sent to the agency by the Department of Public Service.

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Required Documents

• Letter of Request
• Letter of Acceptance from an Accredited Institution
• Costing

Office Locations & Contacts

The Department of Public Service
Poinciana Hill Complex
Meeting Street Nassau,
New ProvidenceThe Bahamas
Tel :(242) 502-7200
Fax: (242) 326-6929
Opening hours: 9:00 am to 5:00 pm, Monday to Friday, except public holidays
Contact Link

Eligibility

• Unpaid leave recipients are usually eligible for educational loans. However, this benefit has been expanded to allow students studying at regionally recognised schools to work while pursuing their educational aspirations.
• Educational Loans are offered in exceptional instances to recipients of Limited In-Service Training Awards (salary only) who are having financial issues covering training costs.

Fees

The loan is subject to an interest rate of 8%.

Validity

There is no deadline for this process.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

Requests for Educational Loans are completed within three months at the Department of Public Service.

Related Videos

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'.

Instructions

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.

Required Information

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

Need for the Document

It is required to qualifying officers to assist with defraying expenses as they pursue their educational goals.

Information which might help

Website Link

Other uses of the Document/Certificate

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

External Links

Place some external links which might help.

Others

The maximum loan amount is $3,000 (one per study session), and suggestions should be submitted one month ahead of time. These loans have an additional 8% interest rate. Deductions begin once the course is completed.