Scotiabank has announced the launch of the Scotia Professional Student Plan, an alternative to traditional student loan for the financing for students focused on pursuing a professional degree.

The plan, launched at the University of the West Indies, begins with a pilot for medical students and offers up to US$155,000 in funding over the five years of study.

"A tertiary education is one of the best investments a student can make and so many have difficulty sourcing the funds" said Patsy Latchman Atterbury, vice-president, retail, Scotiabank. "We are pleased to be able to provide another option for students interested in pursuing professional degrees."

Financing

The Scotia Professional Student Plan is a student loan programme that provides an alternate source of financing for students. It is a non-revolving loan that covers the entire cost of the programme of study and will provide up to 100 per cent financing for students in their second to fifth years of study, and 80 per cent for those just beginning the course. In addition, one applicant each year will be eligible for a $250,000 bursary towards their study.

During this first phase, persons who apply must be medical students already enrolled in the Faculty of Medical Sciences at UWI, Mona. They must be Jamaican, with a good credit history and be able to establish their repayment capacity.

For more information visit www.scotiabank.com/jm.