ALL tuitions disbursed are sent directly to the tertiary institutions.
Once you apply for a student loan, you are automatically evaluated for a grant of $50,000. Grant approval is contingent upon an internal assessment.
New students are considered to be persons who are first time students to an institution or a first time applicant to the SLB.
Originals of all supporting documents must be presented to the SLB for scanning. If the documents have been uploaded to the SLB website, the originals should be presented at the SLB office for verification by an SLB Loan Processing Officer.
A guarantor may stand for up to three (3) persons once they are deemed financially capable.
All applicants MUST have a valid Taxpayer Registration Number (TRN) and a valid government-issued photo identification.
Children of Public Sector Workers benefit from a 1% reduction in the interest rate and a reduction in the processing fee.
Loans in repayment that are current or not exceeding thirty (30) days in arrears will benefit from a 2% reduction in the interest rate of 9.5%.
Drop-off locations have been established with some Tertiary institutions and are accessible at certain periods within the academic year for the collection of loan documents. Speak with representatives of your institution to find out if a convenient location is available.
Students who are renewing their SLB applications (Returning students) are required to submit new loan documents each year. These documents are available in your
secure area (i.e where you log in and enter your username and password) on our website.
Returning student is someone who has previously benefitted from a loan from the SLB.
Acceptance letter(s) must be submitted as soon as the applicant receives it from the school.
Once all fees (application, processing and insurance) are paid a copy of the receipt MUST be submitted along with all other documents.
Persons who are on the PATH Programme and those on the JAMVAT benefit from a 35% reduction in the processing fee.
Good Standing Promo: Those students who maintain a gpa of 2.5 and over will benefit from a 2% reduction in the interest rate of 7.8%.
For SLB borrowers in Good Standing, employed full time to registered charities, 10% of their loan balance will be forgiven for each year that they remain employed to the charity.
