Writing an education loan request letter to your Jamaican employer should be a must for all employed students. This education loan request letter can be very helpful in paying for your education, while securing your job.
This strategy can be adopted to wherever you reside or work throughout the Caribbean, North and South America, UK, Canada or Europe.
In this article, we will be guiding you through the simple steps in composing a persuasive letter and/or proposal to your employer. This letter will be addressed to the Human Resource Manager of medium to large companies. For smaller organizations, we will be addressing the manager/owner directly. An education loan based on your years of service and salary is an inexpensive and low interest way to get money for your tuition.
You need to send an education loan request letter that specify the reason it is required because it may help convince the employer when he or she is considering the request. Relevant information that should be outlined includes your specialization information such as level of study and major.
Your letter should also give the time frame for the loan and duration of the course. As an employee, you should ask the company’s human resources department if there are any specific policies for salary advances or education loans. Any required forms need to be filled out and enclosed with the loan request letter.
In some cases, it is recommended that the employees use salary advance loans as a last resort after looking into other avenues for a loan such as the education loan. Your education loan request letter should also state whether the request is a one-time occurrence or an annual loan for the duration of the course.
An Employer Education Loan Borrower Should Understand
You, the borrower, should understand that asking for an education loan request could indicated to your employer that you are in financial difficulty. Depending on your employer and employed position, may cause the employer to request a financial review of your finances.
However, if the amount is not large, and the reasons are given along with documentation that proves the reasons, a salary loan or advance shouldn’t be a problem. Salary loans are usually requested for a small amount that can be easily repaid with deductions from the borrower’s salary.
The amount of repayment should not be so high as to jeopardize the ability of the employee to meet monthly living expenses. Below is a sample employer education loan request letter written to an employer and a sample letter written to a bank.
The letters should be written in formal business style, and if there are any forms required by the bank or employer, they should be included with the letter. Your education loan request letter should be sent by certified mail, email or self drop-off and a copy kept by the sender.
Sample Education Loan Request Letter To Employer
Name of Employee
Address of Employee
Name of Employer
Address of Employer
RE: Request for education loan to be repaid from my salary
Dear Name of Employer:
This is a formal request for an no-interest education loan of [one million, two hundred thousand dollars (J$1,200,00)] to be repaid with a salary deduction from my salary each month. I would like to repay this education loan within 36 months. I require the funds to cover the cost of my [Master’s degree] in [Mechanical Engineering] that will last eighteen (18) months at the [University of Technology, Jamaica].
I have been a/an [JOB TITLE] with [NAME of COMPANY] for the pass [YEARS OF SERVICE] and in an effort to contribute more to the organization and for my personal development, I have decided to pursue [LEVEL OF STUDY]. Unfortunately, my family and I are unable to cover the cost of the programme. Therefore, I would like to apply for a no-interest education loan, preferable a refundable education loan if that facility is available to current staff.
In return of this no-interest education loan, I am committed to sign a bonding or general agreement to continue as an employee and vital team member and contributor to [NAME OF COMAPNY] objectives. Additionally, I would be available to share my knowledge and experience on [TEAMS or PROJECTS].
The education loan will be repaid with installments that can be deducted from my salary every month until the loan is repaid in full and/or reimbursed. I can be reached at phone number or email Address to discuss the terms of the loan.
Thank you for considering my education loan request.
Signature of Employee
Printed Name of Employee
List of Enclosures