Bank of St Helena’s newest lending product is now available for students between 18 and 21 years with a confirmed university placement within the United Kingdom. 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 6% per annum. 

The loan can be paid back in one of two ways:

1. Repayments of interest only during the student’s years of study with repayment of capital and interest commencing once the student completes their studies
2. Repayment of interest and capital from the outset.

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

Lending Fees & Charges – Student Assistance Loan

*To be paid on submission of application