Education Loans

Accessible and affordable, students trust DFC! See below the  benefits of DFC’s Education financing.

Apply Online

Click here to apply online now! apply.dfcbelize.org

Special Education Program

DFC’s Special Education Program is designed to help students from low income, vulnerable, high risk, or high dependency homes. It is more accessible and more affordable.


Click here to learn more about this Special Student Loan Program.

DFC REGULAR STUDENT LOANS

LOAN For:

  • Vocational & Technical Studies
  • Certification Programs
  • Associates Degree
  • Bachelors Degree
  • Masters Degree
  • Doctorate

Loan Covers:

  • Tuition and Fees
  • Books & Related Materials such as Laptops etc.
  • Travel Expenses (Local & International)
  • Boarding and Lodging (Local & Intl.)
  • Loan Fees

Benefits:

  1. Grace Period during the entire time you are studying (Pay only interest)
  2. Extended Grace Period – Up to 6 months Grace Period after completion of studies
  3. Additional Financing – Want to continue your studies after graduating? You can access another loan from DFC to go even further.
  4. Age – Financing for students from 15 years of age (Parents apply)
  5. Interest Rate – 10% to 12% (Interest is charged on the reducing balance)

Eligibility Amounts:

  • Get up to $60K for studies up to 2 years.
  • Get up to $100K for studies beyond 2 years.
  • Get up to $150K for Medicine or Law Studies

Note: Only students from households with a gross annual income of less than $94,600 ($7,883 monthly) are eligible for loans from DFC.

Application Requirements:

Download Requirement Checklist here.

  1. Letter of Acceptance from the school
  2. Guarantors or Collateral (see below)
  3. Course outline from the School with the cost of the program of study per academic year and course content.
  4. Cost schedules should include tuition, fees, books, and other relevant expenses
  5. Copy of Valid ID: Social Security or Passport only

If Applicable:

  • If employed: Job Letter and 2 most recent Pay Slip
  • Self Employed: Income Statement
  • Proof of Address: Utility bill in your name or verification letter from Landlord
  • (If any): Evidence of Scholarship, School Grant etc.
  • If already enrolled but need a loan to complete studies:
    a.) A study Completion Letter to confirm academic standing and b.) A Copy of Transcript grades

Notes: Successful applicants/students must maintain a GPA of 2.0 or above.

GUARANTORS

  • Loan up to $10,000 = 1 Guarantor
  • Loan up to $20,000 = 2 Guarantors
  • Loan above $20,001 = Real Estate Collateral

Note:

  • DFC provides loans on the strength of the Guarantor meaning if 1 guarantor is capable of securing a loan up to $20,000, then only 1 guarantor would be required.
  • Guarantor Proof of income required. (Employment letter OR Income statement)
  • If employed, must be employed for a minimum of 6 months.
  • Must be able to service the loan amount if Borrower defaults.
  • Cannot guarantee a loan from a pension income.

List of Priority Areas of Studies

Download Complete | Detailed List here.

  • Agriculture
  • Health
  • Education
  • Tourism
  • Information Communication Technology
  • Entrepreneurship and Innovation
  • Renewable Energy
  • Natural Resource Management
  • Climate and Weather
  • Social Science
  • Engineering
  • Business Management
  • Archiving
  • Urban and Social Planning
  • Public Sector Management
  • Policy Analysis
  • Archaeology

This list does not represent ALL the studies DFC can Finance. Contact DFC if your course of studies is not listed to confirm if we can finance you.

DFC Many Benefits

  • Loans from $1000 up to $150,000 (Medicine & Law)
  • TRUE Reducing Balance Interest Rate
  • LOW Effective Interest
  • Grace Period for Entire time of Studies PLUS up to 6 more months after graduation
  • PAY LESS for Legal Services because of our In-house Legal Services
  • DFC does not Increase your interest rate
  • Forbearance during times of Financial Challenges
  • Tailored Loan Repayments
  • Loan Terms Clearly Explained
  • Repayment Period up to 15 years
  • FREE Property Appraisal ($300 – $1400 in Savings)
  • Loan Fees as low as 2.5%
  • No Hidden Fees
  • Easy to Reschedule
  • No Rescheduling Fees
  • No Loan Consolidation Required
  • No Annual Renewal Fees
  • Safe debt ratio of 35%
  • Good Loan Approval time: Approx. 4 weeks

Why Choose DFC

Vocational Or Academic Studies

With DFC those who want to study Vocational or Technical Studies can access financing for those studies. Student can be 15 years or older.

TRUE Reducing Balance Interest Rate

DFC offers you TRUE reducing balance Interest rate. What this means is that as you go repaying your loan and your balance owed is reducing, your interest paid also reduces because DFC charges interest on the balance owed.

It is referred to as ‘TRUE’ because we apply interest this way  CONTINUOUSLY, over the entire life of your loan with us. Other institutions may say they also offer ‘Reducing Balance’ but it may not be ‘TRUE’ reducing balance because of HOW they apply the interest (eg; on a 12 month basis only) As such, it is not continuous and this means you pay more in interest.

Grace Period

DFC offers Grace periods (Pay only interest) for the ENTIRE time you are studying. DFC also provides up to 6 months more, after you graduate as Grace Period. This is to help you, giving you time to secure employment/income in order to help you service your loan.

We CARE and HELP YOU in hard times

We know that sometimes unfortunate or unforeseen events happen in life. If ever you fall on hard times and find it difficult to service your loan, as long as you communicate with us immediately, we work along with you. Eg. Reduce/postpone Principal payments for a period of time to help you. This is because DFC’s primary goal as a Development Bank, is to ensure the success of our Belizean students.

Other Benefits ONLY DFC provides

We are the Only Bank to provide the legal services you need, In-house which reduces your cost, again saving you money!

DFC has never INCREASED its Interest rate. We don’t ‘Lock’ you into a loan then increase the interest rate on you after.

DFC never bind you down by tying or ‘bundling’ your loan with other loans.

DFC in the ONLY lending institution that provides you with FREE Property Appraisal, Saving you hundreds of dollars!

Long Term Support

If you have gotten a loan from DFC for initial studies, completed those studies and would like a loan to continue furthering your studies, DFC can support you by defraying your principal loan payments until you complete your new studies. You would still benefit from DFC’s Grace Period arrangement.

HONEST and UPFRONT

DFC is up front with you. We explain the loan terms clearly, letting you know exactly what are the loan fees and payments. With DFC there are NO HIDDEN FEES.