Funding higher education as a Seychellois student
In Seychelles, students without a full scholarship can turn to the Educational Loan Scheme, a bank or Credit Union loan of up to SCR 800,000, guaranteed by the state, subsidised by four points and repaid once the graduate is in paid work.
Public scholarships come first
The Seychelles government fully funds higher education for many students in fields considered priorities, whether in Seychelles or abroad. Adjustments to the scholarship policy are intended to let more young people benefit from this support.
The end of the Part-Financing Scheme
Announced in March 2024, the scrapping of the Part-Financing Scheme responded to the difficulties of parents unable to pay their share, which left the state to cover the rest. The Educational Loan Scheme took over for cases not covered.
How the Educational Loan Scheme works
The scheme brings together five commercial banks, the Seychelles Credit Union, the central bank, the bankers' association and the Ministry of Education. Each loan can reach SCR 800,000 and is backed by a state guarantee.
A four-point interest subsidy
The state pays four points of the interest rate charged by the bank, which significantly lowers the cost for the student. The remaining rate depends on the chosen lender and should be compared across the participating institutions.
Repay only once you graduate and earn
Repayment begins once studies are over and a salary is coming in. This rule spares families from paying instalments during the course, unlike a personal loan in Seychelles taken out by parents to cover tuition.
Who is eligible
The loan targets students who are not eligible for a full scholarship and who are enrolled in fields regarded as national priorities. It is open both to students and to employees returning to study, for courses at home or abroad.
Choosing a different university
A student who prefers a more expensive university than the one chosen under the scholarship can fund the difference through the Educational Loan Scheme, within the SCR 800,000 ceiling set by the scheme for each borrower.
Studying at the University of Seychelles
The University of Seychelles, at Anse Royale on Mahé, offers degrees and professional courses, often in partnership with foreign universities. Studying locally reduces the accommodation and airfare costs that would otherwise need financing.
Going to Mauritius, India or the United Kingdom
Many Seychellois study in Mauritius, India, South Africa or the United Kingdom. The budget covers tuition, visa, housing and flights, with an exchange-rate risk when expenses are paid in pounds sterling or Indian rupees.
Private schools and tutoring before university
Families paying for a private school or extra tuition before the baccalaureate use other solutions, set out in our guide to a school loan in Seychelles. These costs fall on the family budget, as public schools charge no tuition fees.
A scheme within the national banking landscape
The Educational Loan Scheme relies on banks supervised by the Central Bank of Seychelles, which is itself one of the scheme's partners. How credit works across the archipelago is explained in our overview of borrowing in Seychelles.
South African student aid by comparison
South Africa has a large-scale public student aid system and dedicated bank loans. Our guide to a student loan in South Africa lets you compare the two approaches, while the Seychelles scheme operates on a much smaller scale.
Applying for an Educational Loan in Seychelles
- First check with the Ministry of Education whether you qualify for a full scholarship.
- Obtain the university's admission letter and a breakdown of tuition and living costs.
- Contact a participating bank or the Seychelles Credit Union to find out the rate before the subsidy.
- Submit the file with ID, admission letter, detailed budget and, where relevant, your employment contract.
- Sign the state-guaranteed loan agreement and arrange for fees to be paid to the institution.
- Tell the lender when your studies end and you start work so repayment can begin.
Key features of the Seychelles student loan
| Feature | Value | Detail |
|---|---|---|
| Ceiling | SCR 800,000 | Per student, under the scheme |
| Interest subsidy | 4 points paid by the state | Applied to the bank's rate |
| Guarantee | State guarantee | No family guarantor required in principle |
| Repayment start | After studies | Once a salary is received |
| Remaining rate | Varies by lender | Compare banks and the Credit Union |
File for a guaranteed study loan
- Seychelles national ID card
- University admission letter
- Detailed budget for tuition and living costs
- Transcripts and qualifications obtained
- Response to the scholarship application
- Employment contract for an employee returning to study
Common mistakes by student borrowers
- Not applying for a full scholarship before seeking the loan, when the scheme is designed for students who are not covered.
- Choosing a non-priority field without checking it qualifies for the Educational Loan Scheme, then being refused funding.
- Underestimating living costs and airfares abroad, and exceeding the SCR 800,000 ceiling partway through the course.
- Paying an agent who promises a scholarship or guaranteed loan at a foreign university in return for upfront fees.
Seychellois students' questions about funding
What is the maximum amount a Seychelles student can borrow?
The Educational Loan Scheme lets each student borrow up to SCR 800,000. This ceiling covers tuition and, depending on the budget submitted, other study-related costs, whether in Seychelles or abroad.
When does a Seychellois graduate start repaying?
Repayment starts after the end of studies, once the graduate begins earning a salary. The exact terms, including the length of repayment, are set in the contract signed with the bank or the Credit Union.
Do parents have to act as guarantors?
Each loan carries a state guarantee, which should reduce the need for a family guarantee. The lender may still ask for information about the student's situation and that of their family.
Can an employee go back to study with this loan?
Yes, the scheme is open to students and to employees, for study in Seychelles or abroad in fields considered priorities. Applicants then need to explain how their income will change during the course.