Learn While You Earn Loans

employed members who have been accepted for a programme of study at a tertiary level institution can qualify for a special character loan facility, the Learn While You Earn loan. Parents can apply for this facility for children who are not yet employed. Self-employed persons can also apply.

What is Covered

  • Tuition
  • Books
  • Exams
  • Other Costs: eg. laptop, tablet

What is Needed

  • Job letter(NCCU will provide a form)
  • Two consecutive and recent salary slips
  • Letter of acceptance from an accredited school 
  • cost of programme 
  • Invoice for laptop or tablet and other major school related expenses


  • Minimum Savings: 5% of loan amount
  • Repayment Period: Up to 6 years for unsecured loans
  • Interest Rate:10% on the reducing balance
  • Member Shares based on loan amount
  • Loan Limit:$20,000 in Character (unsecured)loans (inclusive of other Character loans)
  • First time borrowers:A co-maker may be required
  • Member Shares/Loans click here!  


  • Call or visit an NCCU Branch for an appointment with a Loan Officer
  • Where multiple disbursements are required, the loan will be processed as a Revolving (Open-End) loan 

Other Information

  • Some employers refund education costs when an employee completes an approved course of study.
  • The borrower can claimEducation loan interest payments of up to $5000 annually when filing taxes. 
What is a Character Loan?  It is an unsecured loan of a fixed amount above savings that can be granted to a member with a good credit rating who has successfully repaid previous loans. The loan is granted on the member's signature.

With the special Learn While You Earn facility, a member with a good credit rating can qualify for Character loans of $20,000, in total, above savings.

For information on regular Tertiary Education Loans Click here.