IN keeping with a manifesto promise to provide free university education, the PPP/C administration has taken a decision to write off debts incurred by university students who have successfully completed their university education and have served the country for a minimum of three years.
It will be recalled that President, Dr Mohamed Irfaan Ali upon taking office had promised that free university education will be provided before the end of the current PPP/C term in office. This has now become a reality with a recent announcement by Senior Minister of Finance Dr. Ashni Singh.
According to Dr. Singh, government will write off all loans owed by Guyanese who can demonstrate that they have 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.
This first phase, according to Dr Singh, could potentially benefit over 13,000 Guyanese who have $11 billion in student loans.
This is indeed a visionary and forward-looking step by the PPP/C administration which would have a positive impact on the development of human capital, so critical at this stage of the country’s development.
Guyana is now on the cusp of unprecedented transformative changes and developments. As experience has demonstrated in countries that have transitioned from underdevelopment to modern societies, it is the availability and application of human capital that has been a critical variable.
Singapore, Hong Kong, South Korea and Taiwan have one thing in common, namely, the development and application of a critical mass of human capital which provided the impetus to leapfrog their economies to much higher levels of growth and development, commonly referred to as Asian Tigers.
Education however, is more than a means to an end. Indeed, it is an end in its own right, one of empowering people to live healthier and productive lives. It was such thinking that led to the establishment of the University of Guyana way back in 1963 under the then Jagan administration, still under colonial rule.
It is significant that the PPP/C administration has now taken that bold and decisive step to make university education free to all Guyanese students.
Education has always been a top priority of the PPP/C administration. But, as our past experience has shown, it is not enough to provide ‘free’ education but more importantly to ensure that there is quality education and one that is relevant to the country’s developmental thrust.
This is exactly what the PPP/C administration is doing as it seeks to provide a high, world-class quality of education second to none in the region and beyond.
In addition to university education provided on campus at the Turkeyen and Tain campuses, hundreds of Guyanese students are also benefitting from free online tertiary education offered by the Guyana Online Academy of Learning (GOAL) in a wide array of disciplines offered at universities and colleges across the world.
President Ali and the PPP/C administration must be commended for the emphasis it has been placing on human resource development and the creation of social capital so vital for accelerated development and progress.
Its per capita spending on education compares favourably with that of several countries in the region and with that of many others, both in the developing and the developed world.
