Loans

Qualifying For A Loan

Guidelines for the Granting of Loans

In order to qualify for a loan under the programme, applicants must meet the following requirements stipulated under the Student Revolving Loan Fund Regulations.

  1. Be a citizen of Barbados;
  2. Be at least eighteen (18) years of age;
  3. Be enrolled or accepted for enrollment in an accredited programme offered by an accredited educational institution. Applications may also be submitted by persons who are awaiting official acceptance from an educational institution;
  4. Be pursuing or propose to pursue a full-time, Part-time or Distance course of study approved by the Committee.

 

Documents to be Submitted

Application Forms will be submitted through our online portal. You will have the option to submit the required supporting documents (in PDF Format) into our system and bring the originals/certified copies to our office for verification. Please see below list of documents that should be submitted with the application form (where applicable):

 

  1. Photo of Applicant - This will be taken during your interview at SRLF Offices.
  2. Two Government Approved Identification (National ID card, Barbados Passport, or B’dos Drivers’ License).
  3. Certified copy of Birth Certificate.
  4. Certified copy of Registration of Barbados Citizenship (in cases where applicant was not born locally).
  5. Certified copy of Marriage certificate .
  6. Certified copies of  Academic qualifications.
  7. Certified Copy of Acceptance letter or confirmation of enrolment from the Institution.
  8. OFFICIAL Transcript or grade slip, if already in the Institution or was previously enrolled in the institution.
  9. Course content and statement of the annual cost of the programme from the Institution.
  10. Completed Surety forms.  Please see Surety  Requirements.
  11. Proof of income (pay slip and job letter) for applicant (if employed ) and the surety (s). If either are self- employed, an affidavit MUST be provided.
  12. Personal statement of affairs for applicant (if employed)  and ALL surety(s).
  13. Evidence to show your ability to cover shortfall between cost of the programme and the maximum amount SRLF might lend. (e.g. Award of scholarship, Sponsorship from Gov’t, **Certificate of savings from  financial institution, or confirmation of approval of loan).
  14. Health Certificate from Registered Medical Practitioner.*(this will be retained by SRLF)
  15. Evidence of address of loan applicant & sureties (e.g any document received by mail or recent utility bill) no more than 3 months old.

 

Please note:

  • An Applicant CANNOT be an existing surety for a loan with the SRLF.
  • Applications will be accepted WITHOUT the Acceptance letter.
  • ALL other supporting documentation along with printed application, must be presented to SRLF Office on the date of interview.
  • All documents submitted will remain the property of SRLF.
  • Where persons have opted to upload all supporting documentation, ALL originals are to be presented for verification on the date of Interview.
  • Where a third party is involved, letter of commitment to SRLF MUST also be provided.
  • ALL APPLICATIONS are to be signed at the Interview.
  • Please note copies of official documents such as academic qualifications, marriage certificates etc can only certified by a Justice of the Peace (JP), Attorney-at-Law or Minister of Religion.

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