Economically disadvantaged student loan applications now open

The Ministry of Education has opened the application process for the economically disadvantaged student loan for the academic year 2024-2025.

The application process will close on June 30, 2024, a notification from the Ministry of Education states.

The prospective applicant:

• Must be a national of St. Vincent and the Grenadines.

• Should have resided in the country for at least five years immediately preceding the date of the application for the loan. The notification indicates that exceptions would be made for persons who were abroad during this period for the sole purpose of pursuing studies.

It is advised that likely a applicant completes his/her A’Levels programme and first-year university degree locally to reduce the cost and duration of overseas studies.

The ministry is further advising interested applicants to check the full criteria for eligibility at: Student Loan

Program – National Insurance Services (nissvg.org).

According to the official website of the National Insurance Services, the Government of St Vincent and the Grenadines made a policy decision in 2002, to allocate a proportion of the funds for the Student Loan Programme to assist the most indigent segment of the population. The principal beneficiaries under this programme are persons who have the ability, but lack the financial and other resources to qualify for assistance under the standard Student Loan Scheme.

Students accessing loans under the Economically Disadvantaged Student Loan Programme will be required to sign a bond for the amount of the loan. In this regard, persons whose loans are approved under this programme will have their loans secured by the Government of St. Vincent and the Grenadines.

Application forms are available at: www.nissvg.org/form, or from the Ministry of Education’s main administrative building on Halifax Street in Kingstown from Monday to Friday between the hours of 9:00 a.m. and 3:00 p.m.