It may be come as a surprise for some, but a SLB scholarship can be obtained from our very own Student Loan Bureau. Why not! after all, the SLB is the largest and the official tuition financing institute in Jamaica, which is the largest in the region.
The SLB scholarship is non-repayable – that’s what scholarships and grants are for anyways. These SLB scholarship awards comes in the form of Grant-In-Aid to successful student applicants to cover part-tuition, books, boarding and other college expenses.
Student Loan Bureau Grant-In-Aid
The SLB scholarship is referred to as SLB Grant-In-Aids and are available to all active SLB loan recipients. In addition to tuition loan funding, the SLB also provides additional education financing assistance under its specially designed Grant-In-Aid (GIA) programme. The GIA is a specified- non repayable sum offered to eligible applicants to assist them with the funding of school related expenses. Only full-time students qualify for the SLB scholarship or Grant-In-Aid.
The assessment for the SLB Scholarship or Grant-in-Aid is done through the Means Test which assesses the applicant’s level of need. Beneficiaries do not need to apply for a Grant-in-Aid. The award of a GIA is automatic if the applicant is assessed as being eligible.
When an applicant is approved for a SLB scholarship, the SLB sends the total sum to the relevant tertiary institutions. The Grant sum is disbursed in two payments (one per semester). It is the school’s responsibility to remit the grant sum to students during the course of the school year.
About the Student Loan Bureau
The Students’ Loan Bureau is Jamaica’s premier student loan financing organization committed to ensuring that qualified, needy Jamaican students have equal access to financial assistance to pursue tertiary education.
The Students’ Loan Bureau began operation in 1970, was made a statutory body in 1971 and empowered to issue loans covering a percentage of tuition fees to Jamaican students pursuing higher education at tertiary institutions.
The Bureau is able to lend because of its revolving loan scheme. Students borrow today to repay at the end of their course of study to ensure that succeeding generations of students benefit from the fund. Consequently, repayment of all loans is vital to the viability of the scheme.
In excess of 10,000 students apply for loans annually, and on average 99% of these are successful in accessing an SLB loan. This means that more than 9 out of every 10 students who apply for financing from the SLB are successful.