Repayment

SMARTPAY

SMARTPAY is utilizing your study and grace period to start repaying your loan and making your payments consistently and on time during repayment.

Pay early and save, interest is calculated on the reducing balance, so the smaller the balance the less interest you have to pay

Paying early equals less stress in the future
Payments made during your agreed study period is interest free (for loans opened after 2010)
Pay early to help another deserving Barbadian
During study and grace you can pay whatever you can afford
Once your loan is repaid in full you are eligible to apply for a new loan to further advance your studies

Borrowers can SMARTPAY their loans using the methods below: