Repaying the student loan is easy; choose from any of the following
1. Bill Express
The Student's Loan Bureau has forged a partnership with
Bill Express as a source of collection. Loan payments can now
be made at any Bill Express location nationwide. Payments can also be made
online via the Bill Express Online service
www.billexpressonline.com . Register on the Bill Express Online
website to utilize this facility.
Loan payments can now be made at any Paymaster location nationwide. Payments can also be made online via the the Paymaster's website at www.paymaster-online.net. Register on Paymaster's website to utilize this facility.
4. Salary deduction orders
5. Standing orders
6. Bank drafts
7. Post dated cheques
8. Pay directly to SLB accounts at any BNS branch Acc #: 3215-16 or at any NCB branch Acc#: 212656704 .
Please ensure that your name and TRN is attached to each payment
9. Pay at our offices at the Sagicor Sigma Building,
1st & 2nd Floors,
63-67 Knutsford Boulevard,
If payments are made at any of the two commercial banks please ensure that the students name and Tax Registration Number are clearly printed on the voucher.
The Bureau will determine the repayment terms of the loan, taking into account the size of the students debt and their ability to repay. Normally, the repayment period will not exceed ten years.
The student may repay the loan in full or in part at any time in advance of the date upon which you are scheduled to start. The student may increase the amount and/or frequency of the payments at any time.
Student loans are to be repaid with interest. The loan tenure on each loan ranges between 15- 20 years. Programes which carry between a 3-4 year in school period, the loan tenure is 15 years and for programmes requiring a 5 year period, the loan tenure is 20 years to repay the student loan including the course of study. For example, a student doing a three-year course will have twelve years remaining to repay the loan. Interest is accrued at 9 percent throughout the life of the loan. This is a variable rate and may be reviewed from time to time. Students have the option to start repayment before the course ends and they can choose to repay the loan in as short a time as possible (i.e., the entire ten years do not have to be utilized (and) in fact they are not encouraged to do so).