Students attending the University of the West Indies (UWI) may now apply for a loan from the Student Revolving Loan Fund (SRLF) to finance the tuition cost of their programme, from this year.
This is a recent initiative by the SRLF, which is also allowing students to submit application forms online, for the first time.
Administrative Manager, Roslyn Shepherd, in speaking about the new initiatives said: ???Our Mission is to provide loans for tertiary education at preferred rates and attractive terms in an efficient and caring manner for the advancement of the nation???s human capital.???
She pointed out that loans are approved each year for UWI students as well as those attending local, regional and international learning institutions and these cover post-secondary qualifications for students pursuing full-time, part-time and online modes of study.
Explaining the Management Committee???s decision to approve loans for tuition, Ms. Shepherd said: ???The amount that can be approved for each loan is determined by the tuition cost of the specific programme being pursued. In the case of UWI students these limits are tied to the tuition costs of the various faculties.???
The Manager added: ???Continuing students at the UWI with existing loans from the SRLF may also apply for additional funds to cover their tuition cost.???
Stressing the need for prospective applicants to start applying early, the Administrative Manager, said: ???The SRLF approves loans for the entire study period but disburses the loan in equal amounts over the period of study. Early submission of applications is encouraged to facilitate timely processing and disbursement of funds to learning institutions.???
Application forms and details on the lending process are available on the website. The forms may be submitted online at www.srlfloan.edu.bb and the progress of these can now be tracked by individuals.
These application forms may also be printed from the SRLF???s website or collected from the SRLF and submitted to its Loans Unit, located at the Elsie Payne Complex, Constitution Road, St. Michael.
Additionally, appointments may be arranged with Loans Officers or the Guidance Officer at the SRLF, either online or via telephone numbers 430-2871/72/63 or 430-2913.
Established in 1977 by an Act of Parliament, the SRLF is self-financing and depends on loan repayments to fund its operations.
While noting that it was therefore, important that existing borrowers repay their loans, Ms. Shepherd said: ???History shows when loans are not repaid in a timely manner, the Student Revolving Loan Fund is challenged to meet loan demand.???
There are various repayment options available and highlighted on the website and further guidance and assistance may be obtained from the Officers of the Credit Unit of the SRLF who are available from Mondays to Fridays between 8:15 a.m. and 4:30 p.m.