–some 13,000 Guyanese to benefit, as country inches closer to free tertiary education
SENIOR Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh on Monday announced Phase One of the government’s plan to write off the loans of University of Guyana (UG) students.
Dr. Singh, during a live broadcast statement on Monday, said the government will write off all loans owed by Guyanese who can demonstrate that they completed their studies, graduated, and were employed in Guyana for a minimum of three years.
“We are moving now to write off all loans owed by Guyanese who are able to demonstrate that they completed their course of study and graduated, and, subsequent to graduation, were employed or self-employed in Guyana for a minimum of three years, as evidenced by a minimum of 156 contributions made to the National Insurance Scheme,” Dr. Singh.
The announcement is in keeping with the government’s Manifesto commitment to deliver free tertiary education by 2025.
This first phase, Dr. Singh said, could potentially benefit over 13,000 Guyanese who have $11 billion in student loans.
“In keeping with our One Guyana vision, and in line with our Party’s people-centred approach to development, and our Manifesto, the government remains committed to providing free tertiary education to Guyanese by 2025,” Dr. Singh said.
Back in December 2023, President Dr. Irfaan Ali had announced that a phased programme will be implemented to achieve free tertiary education at the country’s premier institution.
The Head of State had disclosed then that persons who currently have loans at the university will be the first group of the student population the phased approach will target.
In January, Vice-President Dr. Bharrat Jagdeo had said that the government will also have to establish a mechanism to assist those students who would have already paid their dues to the university, but are currently repaying loans to commercial banks.
“We have to come up with a policy to try to help those people, too; we have not done so as yet, but I have openly acknowledged that it is a problem for those people,” he said.
