Activation of study financing

Procedure to Activate you Study Financing

Step 1

Loan Agreement

Login to https://my.studyfinancing-sxm.com/
Update your profile and upload a recent photo of yourself
Click on Activate Studyfinancing, then :
1. Click on View and Sign to review and sign the Loan Agreement
  1. Click on the links at the bottom of the page to download and review the legislation and policy
  2. A parent or legal guardian must co-sign the loan agreement if the recipient is a minor
After your the signing of the loan agreement has been reviewed and approved by Division Study Financing, you will receive an email prompting you to complete Step 2 of the activation process

Step 2

Bank Account, Financial Statement

Login to https://my.studyfinancing-sxm.com/
Click on Activate Studyfinancing, then:
- Opening a bank account
- Select Download Letters
- Click on the Download button after Letter for your bank to:
  - Select your prefer bank
  - The letter addressed to the bank will download automatically
- Financial Statement
  - If you need a guarantee letter to support your application to an educational institution then
    - Click on the Download button after Letter for your educational institution
    - To change the educational institution please send an email to info@studyfinancing-sxm.com or WhatsApp: +1721-5273840
- After you receive (Please do not submit incomplete information):
  - your bank account number
  - recent acceptance letter
    - USA: I-20 form and Visa
    - Canada: Study Permit
    - UK: Student Visa
    - NL: Conditional Acceptance
  - parental declarations (for the previous year eg.: In 2023, parental tax declarations for 2022 are required)
  - Netherlands (Only) Deadline to submit is June 15, 2023
    - Proof of housing:
      - a copy of a lease agreement or contract for an apartment or room Or
      - If you will be residing with a family member or friends:
        
        Proof of homeownership or a copy of their lease agreement And
        
        A sign declaration from the homeowner that you will be residing with them and that you are able to register on their address to obtain your BSN number
    - Minors
      - A document from the Court of First Instance on St.Maarten legally appointing a person residing in the Netherlands as your guardian
    - Passport number
  - A copy of your high school transcript (if not previously submitted)

Step 3

Updating Foreign Address and uploading required documents

Login to https://my.studyfinancing-sxm.com/
Click on Activate Studyfinancing, then:
- Select View & Upload after Upload required documents
- Update your Start date and Foreign Address
- Upload the required documents (see above)
After Division Study Financing reviews and approves the submitted information, you will receive an email indicating that your study financing was activated and your status will change from INACTIVE to ACTIVE.

Travelling abroad

Netherlands

Group travel will be arranged to the Netherlands. You don’t need to request a ticket
Travel, Accident-and Medical Insurance will be regulated via the InsureToStudy Insurance company in the Netherlands

All other countries (excluding St.Maarten)

Requesting a ticket
- Book your ticket at Maduro Travel. Request a digital copy of your reservation itinerary.
- Login to https://my.studyfinancing-sxm.com/
  - Under the Recipient tab, select Tickets then request a ticket
  - Enter your flight information
  - A copy of US student Visa and I-20 form (if applicable).
  - A valid Canadian Study Permit (if applicable)
  - Proof of registration for the new semester and or acceptance letter
After Division Study Financing reviews and approves your request, you will receive an email indicating that your request was approved.
Maduro Travel will email your the e-ticket or you will be contacted to pickup the travel voucher at the receptionist in the Government Administration Building.
Accident-and Medical Insurance
- All study financing recipients with the exception of those studying in the Caribbean will be required to purchase their own accident-and medical insurance that meet the requirements of their school
  - Recipients under the age twenty-five (<25) will received an alternative insurance allowance to the maximum amount of:
    - United States: US$ 770.00
    - Canada: US$ 500.00
    - United Kingdom: US$700.00
  - Recipients twenty-five years and older(>=25) will received an alternative insurance allowance to the maximum amount of:
    - United States: US$ 1200.00
    - Canada: US$ 800.00
    - United Kingdom: US$700.00
- Study Financing recipients studying in the Caribbean (St.Maarten, UVI, Curacao, Aruba, Jamaica, Trinidad etc. will be insured via Nagico. Please click here to download the application NAGICO FORM .
  - Kindly have a physician fill in the form. Please submit the following along with your application form at the Government Administration Building directly.
  - HIV lab result
  - RPR Lab results
  - Copy of your ID/passport
  - Please note, the medical physician will charge for this service. The cost will vary per physician.
  - If you are privately insured or insured via your school then please click here to download the medical insurance declination form

Payments

Payments will be disbursed after the study financing has been activated. Payments can be tracked via the portal.

Netherlands: last week in July
Other Countries (excluding St.Maarten):
- After the ticket is approved
Sint Maarten (including online)
- Online: invoice for the tuition must be submitted to info@studyfinancing.sx or info@studyfinancing-sxm.com
- USM invoice or AUC- and NIPA registration must be submitted to info@studyfinancing.sx or info@studyfinancing-sxm.com

Other conditions may apply depending on the circumstances.