Applying For Educational Loan : Bahamas

Name of the Organization : The Department of Public Service
Type of Facility : Applying For Educational Loan
Country : Bahamas

Website : https://www.bahamas.gov.bs/wps/porta…vZ0FBIS9nQSEh/

Applying For Educational Loans :

Educational Loans are granted to qualifying officers to assist with defraying expenses as they pursue their educational goals.

Related : Department of Public Health Physical Medical Examination : www.statusin.org/6392.html

The maximum amount of such a loan is $3,000 (one per study period), and recommendations should be made one (1) month in advance. These loans have an 8% interest added to them. Deductions begin on completion of the course.

Eligibility :
Educational Loans are normally granted to persons on unpaid leave. This benefit however, has been extended to allow students studying at locally recognized institutions the opportunity to pursue their educational goals while they work.

In exceptional cases, Educational Loans are given to recipients of Limited In-Service Training Awards (salary only) who are experiencing financial difficulties in meeting training expenses.

Process :
** The officer must submit a letter of request and supporting documents to the immediate supervisor.
** The letter of request and supporting documents are then forwarded to the Human Resources section (HR).
** The HR section then submits the letter and supporting documents to the Permanent Secretary / Head of Department.
** The agency then sends the letter and supporting documents to the Department of Public Service for consideration.
** The request is considered by the Permanent Secretary and Minister of the Department of Public Service.
** Once approved the information is sent to the Accounts Section for processing.
** The voucher is prepared and submitted to the Public Treasury Department.
** The Department of Public Service advises the agency of the approval/non approval.

Application Form(s) :
No application forms.

Supporting Documents :
** Letter of Request
** Letter of Acceptance from an Accredited Institution
** Costing

Turn-around time :
Within the Department of Public Service, requests for Educational Loans are processed within three months.

Deadline :
There is no deadline for this process.

Related Fee(s) :
There is an 8% interest fee added to the loan.

For more information please contact :
The Department of Public Service
Poinciana Hill Complex
Meeting Street
Nassau, New Providence
The Bahamas
Tel. (242) 502-7200
Fax. (242) 326-6929

Opening hours: 9:00 am to 5:00 pm, Monday to Friday, except public holidays

About Us :
The Bahamas extends 760 miles from the coast of Florida on the north-west almost to Haiti on the south-east. The group consists of 700 islands and 2,400 cays with an area of 5,358 sq. miles (13,878 sq. km.). Thirty of the islands are inhabited.

The principal islands include Abaco, Acklins, Andros, Berry Islands, Bimini, Cat Island, Crooked Island, Eleuthera, Exuma, Grand Bahama, Harbour Island, Inagua, Long Island, Mayaguana, New Providence (where the capital, Nassau, is located), Ragged Island, Rum Cay, San Salvador and Spanish Wells.

Contact Us :
Public Service and National Insurance, Ministry of Poinciana Hill
Meeting Street
P.O. BOX – N 3915
Nassau, N.P., The Bahamas