Guarantors  and Parents - Guidelines & Responsibilities

Each applicant must have two guarantors.Parents can sign and guarantors. Your guarantors/parents  will agree to secure your CSL  and repay CSL in the event that fail to repay. It is therefore vital that they be aware of all their obligations.

Generally, guarantors can be current beneficiaries of student loans. This means that a student who receives a loan and has not finished repaying same, but if the parents/guarantors have another child and has applied for CSL , the same guarantors be a guarantor for another applicant. However, related documents must be filed to show and demonstrate the ability to repay CSL. 

Guarantors must know the applicant, and plan to maintain some measure of contact in the future. This will provide assurance that the student is held accountable for repayment when the time arises.

A guarantor cannot guarantee for more than three persons at a time with tangible documentary evidence to support the guarantee claims. 

A guarantor must be:

-   Between 18 and 60 years old
-   A responsible individual 
-   In Good Health
-   Gainfully employed
-   In Possession of a Tax Registration Number or Business Registration Number or
     Employment Number

Guarantor must produce the following documents for the interview:

a)  Documents related to Tax Registration Number or Business Registration Number or       
     Employment Number 
b) Two forms of identification taken from the list below:

     i. Driver's Licence
     ii. National Identification
     iii. Valid Passport
     iv.Employee's Identification
     v.Certified photographs 

c) Proof of Earnings/Income Verification

     i. Letter from employer verifying income
     ii. Last three (3) salary slips

          For self-employed persons one of the following:

             1. Letter signed and attested
             2. Last six months current account bank statements 
             3. Bank Statement/Savings account passbook or any other savings instrument 
             4. Two (2) years Audited/ Inhouse Financial Statements


Please note that income verification letters must indicate gross earnings, whether weekly, monthly or annually.

PROTECTING GUARANTORS/PARENTS