Yes. A minimum of two (2) sureties who meet the Fund’s criteria are required.
Yes.
The maximum loan available is currently BDS$50,000 spread over the study period. However, loan ceilings of lesser amounts are applied to particular institution programmes, location of studies and specific programme academic levels.
No. Only Citizens of Barbados can qualify.
The Fund accepts applications throughout the year, however applicants are encouraged to submit applications a minimum of six weeks prior to the start date of the programme.
Applicants must be eighteen (18) years of age and under fifty-five (55) years of age.
Accreditation is a standard used to determine the quality of a course and an academic institution. Although an institution may be accredited, all of its courses may not be.
The interest rate is currently a variable rate of one point five (1.5) percent above the minimum savings rate. The minimum savings rate is currently two point five (2.5) percent.
Locally, regionally or extra-regionally.
Post Secondary, Undergraduate, Graduate, Doctorate or Professional Qualifications.
Any program that is deemed as priority lending based on a high demand in the labour market.
Each area of study has a Board or Committee that accredits the subject through analysis of the program. For example, Business Studies in the USA is accredited by the American Assembly of Collegiate Schools of Business (AACSB).
It is very important first as a benchmark of the quality of the program and also for some professional areas of study. Accreditation is a must if you want to be registered to practice professionally with your qualification, e.g. Engineering.
No. Interest will start to accrue at the end of the study period.