Firm introduces new educational loan

A NEW educational loan to give financial assistance to Bruneians and permanent residents wishing to pursue tertiary education is on offer by the Sankaran Halim Advocates and Solicitors.

In a press conference yesterday, the lawfirm announced the launching of the "Sankaran Halim Educational Loan" to mark Sankaran Halim's 10th anniversary and in the spirit of the holy month of Ramadhan.

"We decide that for our 10th anniversary, we will launch an educational loan which is an interest free educational loan based on the Islamic concept of Qardhul Hassan or Benevolent Loan," said one of the lawfirm's partners, Mohamed Yusof Halim.

"As this is the 10th year, we are offering $10,000 loan per year for five educational loans of $2,000 each," said Mohamed Yusof.

"What we saw in Brunei is that, there is a very good scholarship programme but they are needy people who has to work to go for their education... So maybe this educational loan would assist them," said Mohamed Yusof.

"Even if you have a scholarship, it does not mean we will not consider you," he added.

"The education does not have to be in Brunei. It can be any tertiary education leading to higher national diploma (HND) or degree," said Mohamed Yusof.

Sivabalan Sankaran, one of Sankaran Halim's partner, added that the loan will be given on the basis of merits and means of the candidates.

As the value of the loan is $2,000 per academic year, candidates will have to make fresh applications every year for of their tertiary education.

Candidates can repay the loan extended to them only when they start working at a rate of five per cent of their net salary (exclusive of all Employees Trust Fund (TAP) and Supplemental Contributory Pension (SCP) deductions and all other allowances).

All candidates who are awarded a first class degree or attain the highest award possible for HND will not need to repay the loan extended.

According to Sankaran Halim's press release, the lawfirm hopes to contribute to the community by supporting the excellent educational programme of the country which even has scholarship for those in the private sector.

The educational loan is available irrespective of any scholarships that the candidates have obtained from the government of any other organisations.

"In such cases, the educational loan will serve as an additional financial assistance to the candidates," it said.

Application forms can be obtained from the office of Sankaran Halim at No 15, BT Hj Uthman Complex (in front of Time Square), Simpang 13, Berakas.

Closing date for submitting application is Friday, August 31 and successful candidates will be informed before the end of September.The Brunei Times