The Bank's main determining factor for approval of loans under the student loans scheme is whether the student will be able to afford to repay the loan upon graduation. However, the Bank is also required to take adequate security for loans. Security for these loans must be in accordance with the Bank's general security requirements.

Acceptable security may include:

1. For loans under EC$6,750.00 one guarantor acceptable by the Bank is required.
2. For loans exceeding EC$6,750.00 but under EC$16,300.00 two guarantors acceptable to the Bank are required.
3. For loans over EC$16,300.00 some form of property will be required as security.
4. Participation in Group Life Insurance Coverage by all borrowers.
5. Irrevocable letters of authorization from both guarantor and borrower to their employers, present or future are required in all cases.