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STUDENT ASSISTANCE LOAN

Interest Rate: 4%

Repaid over a maximum of 10 years, depending on age of applicant

This lending product is available for students between 18 and 21 years with a confirmed university placement. The loan will provide finance for cost of living whilst undertaking their studies and will be available to students in a joint venture with a guarantor (e.g. a parent or guardian, or a sponsoring business). 

The loan must be secured, it will be secured by being held jointly with a guarantor, as well as physical security. The maximum loan of £5,000 can be borrowed for each year of study, and up to a maximum of three years, total borrowing over a three year period is £15,000.  The loan amount approved will depend on the applicants ability to afford the calculated repayments. The loan will be repaid over a maximum of 10 years. Interest will be charged at 4% per annum. 

Repayment of the principal and interest rates is fully deferred until the completion of the student’s degree. 

For details of loan calculations and repayment options, please contact our Lending team using the contact information below.

Child Bond Savings can also assist parents save for their child if they decide to study overseas by giving them a step up on their finances before they step into their futures. Click here for details
Lending Fees & Charges – Student Assistance Loan
Application Processing Fee*£5
Administration Fee£20
Cancellation Fee£5

*To be paid on submission of application

Ready to Apply?

With Parent or Guardian:

Customers making an application must be a Bank of St Helena account holder.  What is needed:

  • Fully completed application form and a signed bank transfer to cover the application fee
  • Pay slip

Upon receiving an application for a Student Assistance Loan our Lending team will ensure that all the necessary documents are present and that the application form is completed in full.

 

With a Business or Organisation:

Customers making an application must be a Bank of St Helena account holder.  What is needed:

  • Fully completed application form and a signed bank transfer to cover the application fee
  • Copy of Tax Registration Certificate
  • Copy of Company Documentation
  • Year End Accounts for last Financial Year
  • Cashflow Forecasts for a minimum period of 3 years

Terms and Conditions

Apply for a Student Assistance Loan Online

Download Student Assistance Loan Application Form

With Parent or Guardian

Download Student Assistance Loan Application Form

With Business or Organisation

Need help completing your loan application form?  Please contact the Bank’s Lending team using the contact information provided below.

Personal loan processing can take between 3 – 4 weeks (15 – 20 working days).

Contact Us

Please contact us on (+290) 22390 or complete the Contact Form.

Personal Lending Contact Form

Please complete the information below and our Lending Team will be in touch
Please include Area Code