Affordable Student Loans in Jamaica

Ready to achieve your academic dreams?

The Students' Loan Bureau (SLB) is here to help with flexible and affordable loan options tailored to your needs.

Find the perfect loan for you:

Targeted Loan

The Targeted Loan reduces financial stress during your studies, allowing you to focus on your education. Repayment begins after completing your studies, which means you are now qualified and employable, and can repay your loan.

SLB Pay As You Study

The PAYS LOAN eases the financial burden of undergraduates who wish to repay their loan while in school with an unmatched interest rate and affordable monthly payments. You can feel at ease knowing that by the time you finish school, your loan balance would have been significantly reduced.

Post Graduate Loan

The Post Graduate Loan is ideal for ambitious individuals seeking to advance their careers and pursue specialized knowledge.

Apply For A Loan

Effective April 1, 2024,

No Guarantors needed to access student loans.

The Targeted Loan

Finance your education stress-free with repayment starting after completion of studies.

Interest rate

7.8% during school
9.5% during loan repayment

Loan amount

up to

$1 million

per academic year

Loan period

15 years

to repay your loan!

The Targeted Loan is designed to reduce financial stress during your studies, allowing you to focus on your education without the worry of immediate repayment. This popular option provides support throughout your time in school and gives you breathing room to establish yourself financially after graduation. With the Targeted Loan, you can concentrate on your studies, knowing that repayment will only start when you're ready to begin your career.

Eligibility: Jamaican citizens aged 18-65 years, enrolled in an approved tertiary institution

As a first-time applicant, follow these steps to apply for a Targeted loan:
1. Register Online: Create an account and complete the registration using the One-Time Password (OTP) sent to your email and phone.
2. Apply Online: Log in, select "New Loan," choose your loan type, complete the application, and upload required documents.
3. Pay Fees: Pay via the customer portal, STEEP, Paymaster, Bill Express, or at the SLB office. Keep a copy of your payment confirmation. Fees include:

Application Fee: $6,250

Credit Report Check: $1,250 (for PAYS and Post Grad)

Moratorium Insurance: Payable in full or installments before disbursement.

4. Submit Physical Documents: Deliver all required documents to the SLB office dropbox or designated points at your institution.
Reset Password: Go to www.slbja.com , click "Apply Online," then "Forget Password." Enter your registered email and mobile number to receive a One-Time Password (OTP) and reset your password. (Contact SLB if your details don't match our records.)

Log In & Continue: Access the Customer Portal using your email and new password. Select "Returning Students," choose your Loan Commitment Application Number, and click "Continue." Complete your application and upload any required documents.

Pay Fees: Submit your application fee ($6,250), Credit Report Check fee ($1,250 for PAYS and Postgrad), and Moratorium Insurance (payable in full or installments) through the Customer Portal, STEEP, Paymaster, Bill Express, or at the SLB office. Retain your payment receipt.

Note: Fees must be paid before final loan approval. You may need to submit physical copies of some documents - further instructions will be provided during the application process.
New and Returning Students, please have these documents electronically stored so that you can upload them when you are on the Document Upload page. It is recommended that you download a Scanning Application to your device.

Note that these are mandatory documents that are needed to complete the process. You will not be able to submit your application without them.

Customer ID – valid GOJ ID

Photo of the customer

Address verification

Birth Certificate

Credit Bureau Consent Form – this can be downloaded from the portal

Proof of Income for the person who is financially responsible for you
Track Your Application: Regularly check your online portal at www.slbja.com for updates on your loan status.

Download & Complete Documents: Once approved, download all loan contracts and supporting documents from your portal. Fill out all forms accurately and have them witnessed by an Attorney-at-Law, Medical Practitioner, or Justice of the Peace. Ensure any photocopied documents are certified by one of these individuals.

Submit Documents: Deliver completed contracts and documents to the SLB office via the Drop Box facility.

Pay Remaining Fees: Pay any applicable Status Report, Processing, and Insurance fees through Paymaster, Bill Express, online banking (BNS, NCB, FGB), or at the SLB office. Submit a copy of your payment receipt alongside your documents.

Stay Informed: Monitor your email for important notifications regarding your loan.

Apply For A Targeted Loan

SLB Pay As You Study Loan (PAYS)

Start building your future now with affordable undergraduate funding while you study.

Interest rate

Loan amount

up to

$1 million

per academic year

Loan period

Up to

84 months

(7 years)

With manageable monthly payments starting off immediately, students gain valuable flexibility and balance. This loan allows you to work while studying to support yourself or even start repaying your debt immediately without delaying your education.

Eligibility: Jamaican citizens aged 18-65 years whose employer facilitates salary deductions.

All fees, including the non-refundable Credit Report fee, must be paid before final loan approval. Payment options include:

Customer Portal

STEEP

Paymaster (online or island-wide locations)

Bill Express (online or island-wide locations)

Please retain a copy of your payment confirmation.
Reset Password: Go to www.slbja.com , click "Apply Online," then "Forget Password." Enter your registered email and mobile number to receive a One-Time Password (OTP) and reset your password. (Contact SLB if your details don't match our records.)

Log In & Continue: Access the Customer Portal using your email and new password. Select "Returning Students," choose your Loan Commitment Application Number, and click "Continue." Complete your application and upload any required documents.

Pay Fees: Submit your application fee ($6,250), Credit Report Check fee ($1,250 for PAYS and Postgrad), and Moratorium Insurance (payable in full or installments) through the Customer Portal, STEEP, Paymaster, Bill Express, or at the SLB office. Retain your payment receipt.

Note: Fees must be paid before final loan approval. You may need to submit physical copies of some documents - further instructions will be provided during the application process.
Tax Registration Number (TRN)

One passport size photograph, certified by a JP

One photo identification: Passport, Drivers Licence or National (Voters) Identification

Last three pay slips

Letter from employer confirming their occupation, salary, employment time and the facilitation of salary deduction request.

Proof of address (inclusive of Bank statements)

Two letters of recommendation from two of the following: Justice of the Peace, Minister of Religion, Attorney-at-Law, Employer, Lecturer – The Letters of Recommendation should not be written by the referees or guarantor.

Acceptance letter and/or status letter from tertiary institution of dependent student

Student Identification

Apply For A SLB PAYS Loan

The POSTGRAD Loan

Secure your path to professional growth and take the next step in your academic journey with the SLB POSTGRAD Loan.

Interest rate

9.5%

(reducing balance method)

Loan amount

up to

$1.8 million

Loan period

Up to

60 months

(5 years)

Elevate your career with an SLB POSTGRAD Loan, designed to help you advance your education with a Postgraduate degree. Whether you’re looking to specialize, enhance your expertise, or achieve career growth, the Postgraduate loan facility provides funding for Post Diploma, Master’s, and Doctorate Degree programs. With a competitive interest rate of 9.5% (rbm), this loan offers a manageable way to invest in your future.

Eligibility: employed Jamaicans, 18-65 years, whose employer facilitates salary deductions.

The maximum loan amount of $1.8 million covers tuition only.

Each loan is for a maximum period of 60 months. The repayment of the loan is facilitated by Salary Deduction.

There is no moratorium on the post-graduate loans.

Beneficiaries who also have a Targeted loan must be able to comfortably afford both loans, when they become due for repayment.
All fees, including the non-refundable Credit Report fee, must be paid before final loan approval. Payment options include:

Customer Portal

STEEP

Paymaster (online or island-wide locations)

Bill Express (online or island-wide locations)

Please retain a copy of your payment confirmation.
New and Returning Students, please have these documents electronically stored so that you can upload them when you are on the Document Upload page. It is recommended that you download a Scanning Application to your device.

Note that these are mandatory documents that are needed to complete the process. You will not be able to submit your application without them.

Customer ID – valid GOJ ID

Photo of the customer

Address verification

Birth Certificate

Credit Bureau Consent Form – this can be downloaded from the portal

Proof of Income for the person who is financially responsible for you

Apply For A POSTGRAD Loan

No, the application would have already been pre-approved and adjudication done with the information for the initial school choice. Hence, the existing application would have to be canceled and a new application submitted by the applicant. Cancellation can be done via the Appeals Request on the Customer Portal. Contact the SLB for assistance if you wish to change your school, programme of study or enrolment type.

Apply early. Ensure that you complete and submit the application and supporting documents well before a month of the deadline.

Our application period usually commences in April, the start of a new fiscal year. Application forms are completed electronically on the SLB’s website - www.slbja.com

No. There is no penalty. You can pay off your loan(s) at any time, even if you are still enrolled in school. You may also increase the amounts and frequency of your payment at any time.

There are several easy ways to repay using your TRN as your account number :

NCB and Nova Scotia online banking (Go to “Bill Pay” and select SLB)

Salary deduction orders

Standing order

Bankers orders

Mail money orders

Bill Express/Online http://www.billexpressonline.com

Paymaster locations island-wide or Online https://paymaster-online.com

Coming Soon:

Your SLB Customer Portal (STEEP)

Direct Debit Authorization

The Salary Deduction Form helps us streamline the repayment process in the future. You are required to complete four (4) copies of the form by filling in your name and signature and by doing so, you authorize future deductions when loan repayment begins.