Employed members who have been accepted for a program of study at a tertiary level institution can qualify for the Learn While You Earn loan. Parents can apply for this facility for children who are not yet employed. Self-employed persons can also apply.

What is covered

• Tuition
• Books
• Exams
• Other Costs: eg. laptop, tablet

What is needed

• Job letter
• Two (2) most recent salary slips
• Letter of acceptance from an accredited institution
• Program cost
• Invoice for laptop or tablet and other major related expenses

Terms

• Minimum Savings: 5% of loan amount
• Repayment Period: Up to 6 years for unsecured loans
• Interest Rate: 10% on the reducing balance
• Shares based on loan amount
• Loan Limit: $20,000 unsecured loans (inclusive of other unsecured loans)
• Security may be required for first time borrowers
• Where multiple disbursements are required, the loan will be processed as a revolving (open-end) loan