Guyana Announces Student Loan Relief Program

GEORGETOWN, Guyana – Guyana's government has announced a GUY$11 billion student loan relief program.

loanSenior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh, announced the Irfaan Ali government’s plans to commence phase one of the loan write-off programme for University of Guyana (UG) students.

He said this is in keeping with its manifesto promise of providing free tertiary education to Guyanese by 2025 and to be eligible, persons must have graduated in relation to the program funded by the “Government of Guyana’s Student Loan Agency”.

It said subsequent to graduation, persons must have been employed or self-employed in Guyana for at least three years, as evidenced by a minimum of 156 contribution made to the National Insurance Scheme (NIS).

Singh recalled that after 2015, the previous APNU+AFC Government had proposed the introduction of travel bonds intended to bar students with outstanding loans from traveling.

“[This] vision seeks to create a society where all Guyanese irrespective of where they live, their ethnic or religious background, their political affiliation or gender or other orientation, have the opportunity to lead productive and happy lives.

“It aims to achieve this by reducing inequality and access to education, health and other social services, employment and income and security and justice,” Singh said.

The government said it will release additional information on how persons can access phase one of the program in the coming days.