Belize Natural Energy Charitable Trust (BNECT) STUDENT LOAN PROGRAM

On Thursday March 26,2009, Belize Natural Energy Charitable Trust announced development partnerships. BNE Trust will provide student loans through SMCU for prospective and current students to finance tuition and fees for tertiary level institutions in Belize. Any person may apply for these loans (certain restrictions apply). 

Eligibility

Prospective students of Sacred Heart Junior College, University of Belize (UB), and Galen University among others, may apply for loans to finance their tuition, fees and other related expenses on a semester basis.

Financing

Students who are eligible will be required to repay a minimum amount on the loan. A portion will go towards their savings (share account) and the difference will be paid toward loan principal and interest.

Loans may be applied on a semester basis however the approval of further funds will be determined on whether the student meets the minimum requirements mentioned above especially in regards to maintaining a minimum GPA of 2.5.

 Benefits

• You become a member of SMCU with all benefits.

• Loan payment is a minimal amount that any student can afford to pay.

• Employment is NOT REQUIRED. A co-maker (guarantor) who is a member of SMCU will be required.

• You save as you pay your loan.

• NO need to hassle yourself with finding that lump sum of money required for registration.

• Competitive interest rate on your loan.

Start your career in Construction or any other Educational Program with a loan from St. Martin's Credit Union.

Requirments:

The following documentations must be presented to apply for this loan. This does not guarantee approval however.

1. Letter of Acceptance (prospective students).

2. Letter showing tuition and fees for which financing is sought.

3. Report card with a minimum of 2.5 GPA or C+ grade.

4. An official ID: Passport or Social Security.

5. Belizean by birth or naturalization.

6. Resident of San Ignacio or surrounding area.

7. A Co-maker who is a member of the credit union.

8. Become a credit union member and pay membership dues and deposit.

Disbursement

After your loan application has been approved, funds will be paid payable to the educational institution. Before further payments will be disbursed, student must present a report card with a minimum of 2.5 GPA.