SLB Provides Various Loan-Repayment Options

The Students’ Loan Bureau (SLB) is affirming its commitment to customers by providing various loan-repayment options.

Executive Director of the SLB, Nickeisha Walsh, told JIS News in an interview that the lending agency has the lowest interest rate for any form of educational loan repayment across the country.

“There’s a notion for persons coming up in our older generation that SLB loans are expensive, and you’ll never ever finish paying your loan. But one thing I want people to know is that the SLB offers the lowest interest rates for any school product,” she said.

She indicated that the loan agency has diversified the loan-repayment options, making it convenient for borrowers.

“Our interest rate can be as low as four per cent with our special benefits. Persons are aware that when you take an SLB loan, you won’t repay until you graduate, but we have two other additional products too. This is the Pay As You Study and the Postgraduate Loan,” she said.

“With the Pay As You Study product, employed parents, guardians and spouse can take a loan on behalf of their students. That loan is as low as six per cent per annum. There’s no financial institution that will give you an unsecured loan for six per cent. The SLB is doing that,” Ms. Walsh noted.

She added that the postgraduate loan facility is also very competitive.

“We have our postgraduate product where persons who are pursuing doctorate and postgraduate studies can get up to $1.8 million to borrow at the interest rate of 9.5 per cent unsecured. So, the SLB is, in fact, one of those competitive institutions that are making a mark,” she said.

The SLB Executive Director said they are willing to facilitate other arrangements for persons who run into difficulty in repaying their loans.

“I’m encouraging persons to repay their loan because each one will reach one. If you pay your loan, it provides opportunity for somebody else to realise their dream. I am encouraging persons, if you are finding difficulties in paying, come into the Bureau, we will look at how we can reschedule that loan and offer other grants or waivers for you to better serve your debt,” Ms. Walsh said.