The coffers of the Students' Loan Bureau (SLB) have been boosted with an additional US$20 million, facilitated through government guaranteed loans from the Caribbean Development Bank (CDB).
At the weekly Jamaica House media briefing, Sandrea Falconer, Information Minister,explained that the additional funds will enable the SLB to meet its demand for loans amounting to over J$14.8 billion dollars for the 2012/2013 financial year.
The Bureau, which has been facing financial challenges, has seen an increase in the number of students seeking loans, moving from 6.000 in 2007 to over 16, 000 last year.
Falconer said based on this demand and the government's inability to increase the level of support to tertiary institutions, the SLB has sought to replenish its pool of funds by accessing the CDB loan.
The CDB has also proposed a grant to the SLB of US$175 thousand.
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