loan
Students’ Loans
To qualify for consideration for the loan, the applicant;
- Must be a Tanzanian registered/admitted by the Maritime Training Institution
- Must be taking marine navigation, pilotage, marine engineering and related engineering disciplines, shipping agency, maritime law, maritime economics, cargo handling, cargo clearing and freight forwarding, maritime safety and security, marine environment professions and short course programmes for Tanzanian seafarers.
- Should not exceed 30 years of age at the time of application for undergraduate courses.
- Should not exceed 50 years of age at the time of application of master degrees and PhD.
- Should not exceed 55 years for professional courses and short courses.
- Must have admitted to an accredited high learning Institution/other relevant training institution.
- For continuing student, applicant must have results/progress report to show that he/she has passed examinations.
- Must not have multiple sponsorship
- Who wants to study abroad must produce “No Objection Certificate” (NOC) from the TCU/TASAC.
- Must not have any other outstanding study loans.
Maritime Education Institutions/Organizations’ loan
To qualify for consideration for the Fund’s support, the applying educational institutions should have the following qualifications:
- Must demonstrate, in writing, the relevance use of Funds to implement projects in line with the objective of the Fund as stipulated in METFUND Regulations 2011;
- Must have contributed to the Fund and have no outstanding fees to the Fund.
- Must be registered in Tanzania by relevant authorities and has Tax Identification Number (TIN) with Tax clearance certificate.
- Must be accredited by relevant and authorised institution.
- Must possess an unqualified Audit report provided by Controller and Auditor General.
- Must possesses either immovable asset that covers 150% of the amount of loan or guarantee of 100% of the amount of loan.
- Must have clear cash flow records.