All application and processing fees for loans from the Students’ Loan Bureau (SLB) will be waived for the 2021 academic year.
This was announced by Minister of Finance and the Public Service, Dr. the Hon. Nigel Clarke, during his contribution to the debate on the First Supplementary Estimates of Expenditure during the sitting of the House of Representatives on Wednesday (June 10).
He noted that the waiving of the fees is part of the Government’s commitment to ensuring tertiary education “remains affordable and accessible to all Jamaicans”.
He said that as a result of the coronavirus (COVID-19) pandemic, fewer students have been seeking to borrow funds from the SLB, as they cannot afford the fees to access and process the loans.
Dr. Clarke noted that the temporary measure is in addition to the already announced waiving of late fees and a moratorium on all monthly payments to the SLB for three months as a response to COVID-19.
The Finance Minister reminded all prospective applicants that notwithstanding the challenges posed by the virus, the SLB “remains open for business”.
“Taking into consideration all the initiatives implemented by this Administration, including reduced interest rates… it has never been more affordable to access loans through the SLB. We want our students to be able to access and to continue their education,” Minister Clarke said.