SRLF is Ready to Serve

SRLF is ready to serve in 2019 and Beyond



In over 40 years of existence The Student Revolving Loan Fund has played a vital role in the academic development of over 9000 Barbadians, providing inexpensive and easily accessible student loans to the sum of $240 million.



Beneficiaries get up to one year’s grace after completion of agreed study period and loans are tied to labour market requirements.  The SRLF is guided in part by the priority areas highlighted by the National Development Scholarship and the input of policy makers and professionals in various fields. Supported study areas range from professional to vocational.



Our focus isn’t simply to make Barbadians employable but to create employers and develop the qualifications of entrepreneurs who may need further training to enhance their competitive advantage. New qualifications and modes of delivery have emerged along with disrupting technologies and business models. The SRLF continues to innovate its offering to service these changing demands. Saturated areas of employment and programs without a probable demand in the local labour market are not prioritized for lending. Local institutions offering programs which are similar to international options are given preference for financing, especially up to the first degree level. Based on the global recognition of programs for employment; acceptance for further studies; and the return on investment; local institutions are heavily supported by the SRLF. These include University of the West Indies, The Barbados Community College; BIMAP and Samuel Jackman Prescod Institute of Technology. Other institutions are also considered once they are either registered or accredited by the Barbados Accreditation Council. Accredited regional, international and distance/online options are also supported.



The SRLF understands the importance of its role in the development of Barbados and through prudent financial management has been able to attain an average annual profit of $3 million over the last 10 years. The SRLF does not have arrears with any statutory entities nor its creditors. In addition, it does not operate an overdraft facility. The organization has a good repayment track record as it previously repaid three (3) loans from the IADB for $1 million, $4 million & $9.4 million respectively. The SRLF also has at its disposal cash resources of approximately $12 million, which is more than adequate to meet its immediate operating needs; loan disbursements; and short-term commitments. In addition, it has a built up an investment portfolio in excess of $20 million to assist in meeting its future commitments.

Since 2011 the SRLF has operated independent of any transfers or subventions from central Government.


 One of the challenges plaguing the SRLF over the years is loan arrears. The current arrears rate is approximately 12% which is comparable to student lending agencies in the USA & Canada that have a rate of 11%.  When loans in default i.e.  in arrears greater than two (2) years is factored in, the overall delinquency rate jumps to 27%.  However, it should be noted that prior to 1994 the disbursing of loans and the collecting of loan payments were done by private sector financial institutions on behalf of the SRLF. When these functions were taken over by the SRLF, the delinquency rate across the portfolio was 75%. The staff of the SRLF has subsequently worked assiduously to reduce the overall delinquency rate.

 While delinquency continues to be our major challenge, the Collections Unit has implemented several strategies to mitigate the risk of delinquency.  Depending on the nature of the arrears the SRLF stands ready to accommodate and provide relief to borrowers experiencing genuine difficulties. However, it should also be noted that the SRLF will continue to use the tools at its disposal to persuade delinquent borrowers to service their loans.

On the front end, The SRLF has provided more options for potential borrowers to secure their loans. In addition to guarantors or sureties, the SRLF also accepts security such as cash, land, property; government paper and cash surrender value on insurance policies. Repayment has also been made easier as beneficiaries have many methods of loan repayment ranging from over the counter cash transactions at the office of the SRLF to online payments.



  • Audited Annual Financial Statements are up to date
  • All statutory obligations are current
  • The increase leveraging of information technology
  • The creation of a more customer centric environment


We have reduced the paperwork and made applying for loans more accessible by introducing an online application process. The portal is open and ready to take applications to finance any stage of approved studies.  Applicants are encouraged to submit completed applications early enough to ensure a timely decision. If you have any queries or are experiencing difficulties repaying your loan, please book an appointment to see an officer or call 1 (246)535-0834.  You can also chat online with a representative upon visiting the website.