40 disadvantaged students to benefit from loan programme

Over 40 persons will this year benefit from the economically disadvantaged student loan program.

This, even as the Government owned Student Loan Company moves to address the approximately 25 per cent default rate on the loans.

Speaking at Cabinet Room on Monday, Prime Minister Dr Ralph Gonsalves said the loans this year will cost about EC$2.2 million.

Apart from the economically disadvantaged student loans, the Government has this year also given 114 tuition scholarships, up from 70 last year.

This is in addition to over 20 persons who have received national scholarships and bursaries and will be leaving to pursue higher education.

Gonsalves said the money being spent on educating the nation’s youth is an investment in the country.

He also said the Government pays annually, approximately EC$7 million, for the economic cost of students attending the University of the West Indies (UWI).