Student Loan Checklist
A general checklist for a student loan is provided below. Your loans officer will indicate which of these items are required for assessing your loan.
- Medical Certificate
- Letter of Accreditation from Min. of Education
- School Certificates (CXC, GCE, etc.) Certified Copies
- 2 Testimonials as to good character
- Acceptance Letter stating intended Course Of Study/ Costing from University
- Life Insurance Policy to be assigned to Bank (Face value equivalent to loan Amount)
- Certificate of Title to property to be used as Security (for loan above EC$16,300)
- Valuation of property
- Appraisal Fees (Equivalent to 1.5% of loan amount) Payable prior to Appraisal
- 1 Guarantor acceptable to Bank (for loans under EC $6,750)
- 2 Gurarantors acceptable to Bank (for loans under EC$16,300)
- Letter from Relatives consenting to pay Interest during study period (Salaried person)
- Financial information of client if employed and of guarantors
- Course content/description
Disbursement Plan
| Year I ($) | Year II ($) | Year III ($) | Year IV ($) | Year V ($) | |
|---|---|---|---|---|---|
| Annual Disbursement | |||||
| Accumulated Disbursement | |||||
| Annual Interest |