If you have additional questions or need further clarification, our team is here to help. Contact us for personalized assistance regarding your NSLF loan application, eligibility, or repayment process. We’re committed to supporting your educational journey.
Frequently Ask Questions
Have questions about the NSLF loan process? Explore our Frequently Asked Questions (FAQs) for quick and clear answers on eligibility, application steps, repayment terms, and more.
Persons must be citizens of Antigua & Barbuda, eighteen (18) years of age and older. They must also be accepted to or already enrolled in a programme of study offered by an eligible educational institution.
Eligible Institutions are those that are legitimately accredited as formal educational institutions – locally, regionally and internationally.
The maximum amount that can be borrowed is EC $75,000.00. Hence, the NSLF should be regarded as a supplementary fund and not as the main source of funding one’s studies especially if the student is just beginning a course of study. However, the student will have to present supporting documentation and indicate how the entire programme of study will be financed. Nevertheless, requests will be dealt with on an individual basis.
It is the applicant’s responsibility to plan thoroughly for his/her expenses in order to avoid such a situation. The amount of money allocated to the Fund is limited, hence the maximum of $75,000.00 that anyone can borrow. Also, the purpose is to assist as many persons as possible. Therefore, it is unlikely that an increase will be given once the initial loan has been processed.
The purpose of the Fund is to provide an opportunity to persons who would otherwise have difficulty accessing funding. As such, there is no requirement for collateral. However, it would be to the student’s best interest to plan for the full amount required to complete his/her studies.
The interest on a loan is calculated at only 3% per annum.
Loan recipients generally begin making loan payments one (1) month after receiving the first loan disbursement. Payments of Principal and Interest are made while studying.
A surety must be an employed person living in Antigua & Barbuda. That person must also be in a position to assist in the repayment of obligations where necessary.
The maximum repayment period for an NSLF loan is fifteen (15) years.
Any problems or difficulties encountered in fulfilling your loan obligations must be reported to the Student Loan Advisory Committee immediately in order to avoid penalties, fees, and the default interest rate of 13%.
All loan recipients are required to sign a loan agreement and a bond agreement which stipulates the loan recipient must return to Antigua and Barbuda to work for at least two (2) years.
