Ambition is powerful. The right financing makes it unstoppable.
Get the support you need to upgrade your skills, unlock opportunities, and take your career further.
Turn Career Goals into Career Moves
Whether you’re chasing a promotion, pivoting into a new field, or finally starting that degree you’ve been putting off, your education is one of the smartest investments you can make.
With the VMBS Education Loan, you don’t have to delay your plans. It’s built exclusively for working professionals who want to learn more, earn more, and move forward — now, not later.
Every professional’s path looks different, so choose how to finance your studies with an unsecured loan or a secured loan:
- Up to J$5M
- Repay over 6 years
- No collateral.
- Quick access to tuition funding designed for professionals on the move.
- Interest rate: 18.00% p.a.*
*Rates are variable and subject to change.
- Up to J$10M
- Repay over 10–15 years
- More funding.
- Better rates — backed by home equity, vehicle equity, or cash security.
- Interest rate: 10.25% p.a.*
*Rates are variable and subject to change.
How This Loan Works for You
When you’re balancing work, life, and studies, you need financing that actually makes things easier — not harder. That’s exactly how the VMBS Education Loan was designed: practical, flexible, and built to support your career goals.
- Made for professionals – Tailored to employed Members with steady income.
- Focused on your future – Covers tuition and academic fees only, so financing stays on track.
- Repayment that fits life – Salary deductions keep payments automatic and stress-free.
- Study here or overseas – As long as you maintain residency in Jamaica, we’ll support you.
- No penalty for early payoff – Clear your balance sooner if you’re ready.
Getting your Education Loan
When you’re balancing work, life, and studies, you need financing that actually makes things easier — not harder. That’s exactly how the VMBS Education Loan was designed: practical, flexible, and built to support your career goals.
- Apply
Apply online or at your nearest VMBS branch, then submit your acceptance letter, tuition invoice, proof of employment, ID, income documents, and credit report.
- Get Approved
We’ll review your application under our credit criteria and once approved, tuition is paid directly to your school, usually in 2–4 transactions across the academic year.
- Repay With Ease
Salary deductions commence after the first disbursement, ensuring payments are simple and automatic.
Take Your Next Step Today
Your education is one of the best investments you’ll ever make. Let’s fund it the smart way, together.
- Have been employed for at least 18 months with a stable income
- Are accepted into an accredited programme (proof of enrolment required)
- Reside in Jamaica
- Tuition fees for part-time undergraduate, postgraduate, or doctoral studies
- Mandatory academic fees billed by your institution (registration, labs, exams, thesis, etc.)
- Living expenses (housing, meals, transportation)
- Personal expenses or non-academic costs
Check If You’re Eligible
The VMBS Education Loan is built for professionals who are ready to take their next step — whether that’s a new degree, a career upgrade, or a complete pivot.
You may be eligible if you:
- Have been employed for at least 18 months with a stable income
- Are accepted into an accredited programme (proof of enrolment required)
- Reside in Jamaica
Frequently Asked Questions
We know taking on a loan is a big decision. That’s why we’ve made it simple to find the information you need, so you can move forward with confidence.
Repayments begin after the first disbursement, and they’re made through simple salary deductions — so you won’t have to worry about missing a payment.
- For your initial application, you’ll need to provide:
- University acceptance letter (stating programme name, level, and start date)
- Official tuition invoice or payment voucher
- Proof of employment and income (e.g. job letter, payslips, or bank statements)
- Valid government-issued ID (passport, driver’s licence, voter’s ID)
- Credit report
- Creditor Life Insurance (mandatory for all loans)
If your loan is secured, you may also need:
- Property title and valuation report (for home equity)
- Motor vehicle documents (if vehicle equity)
- Cash security documents (if cash-secured)
- Insurance documents (property/vehicle as applicable)
For subsequent disbursements, you’ll need:
- Official letter confirming continued enrolment
- Current invoice/payment voucher
- Completed continuation form
- Updated employer confirmation (if employment details change)
Yes. You can make early or lump-sum payments at any time, without penalty.
Only if you’re applying for a secured loan. With an unsecured option, you can borrow up to J$5M with no collateral required.
Yes, your salary must be transferred to a VMBS account for the duration of the loan. This ensures repayments are simple and automatic.
We’ll pay tuition directly to your school in 2–4 tranches per year, aligned with the institution’s billing schedule.
You’ll need to update us with your new employment details, so we can continue your repayment arrangement without disruption.
Yes! You can still apply for the Education Loan. As part of the process, you’ll be asked to open a VM account and transfer your salary to VMBS for the loan term — making you a Member.
The loan covers tuition and mandatory academic fees billed through your institution (such as registration, labs, exams, or thesis fees). Living or personal expenses are not included.
You’ll need:
- Your university acceptance letter
- Your official tuition invoice or payment voucher
- Proof of employment and income
Additional documents may be requested depending on whether the loan is secured or unsecured.
Once we’ve received your documents, our team works to review and provide a decision quickly — usually within a few business days.
The loan covers tuition and mandatory academic fees billed through your institution (such as registration, labs, exams, or thesis fees). Living or personal expenses are not included.
Yes. A 5% late fee will be applied to the overdue instalment.
We’ll pause future disbursements until the updated enrolment documents are received.
Terms & Conditions apply.
Loan amounts, interest rates, and repayment terms are subject to credit approval by VM Building Society. Applicants must meet eligibility requirements, including proof of employment and enrolment in an accredited programme. Additional fees, conditions, and restrictions may apply. Products and services are subject to change without notice.
