Persons seeking student loans line up outside the SLB office. (Gleaner Company photo)
The Government is projecting to disburse nearly $3 billion in students’ loans this fiscal year.
According to a report on public bodies, the Students’ Loan Bureau (SLB) will release $2.7 billion to borrowers.
The Budget includes US$13 million in additional funding.
It is forecast that 11,429 loan applications will be submitted during 2011/2012 of which 10,561 will be approved.
In the meantime, the SLB will continue to assess the possibility of changing its interest rate regime, extending the loan tenor for existing beneficiaries and guarantors as well as expanding loan access to applicants.
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