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The Tuition Loan / SLB Promissory Note application is designed for students with existing loan balance/s from previous semester/s under the Tuition Loan / Student Loan Board (SLB) program.
A guarantor must be: Jamaican national or a Jamaican citizen ? Must be employed for at least 1 year ? Between 18 and 65 years old assessed on a case by case basis ? Gainfully employed- whether formally or self employed ? In Possession of a Tax Registration Number (T.R.N.)
Additional Information Deposit 5% of required loan amount in shares. Acceptance Letter/School Report. Valid ID (Driver's License, Passport or National ID) Tax Registration Number (TRN) Collateral/Security for loan or two Guarantors who are willing to provide tangible security Passport size photograph.
However, you should only be a guarantor for someone you trust and are willing and able to cover the repayments for. To be a guarantor you'll need to be over 21 years old, with a good credit history and financial stability. If you're a homeowner, this will add credibility to the application.
The guarantor is the organization which provides a guarantee of repayment to your lender if you should default on a loan. Most student loans will have an origination fee or guarantee fee deducted from the loan before it is sent to you and these fees go to the guarantor.