Student Loan Fund upgrading

Students and parents have been told to look forward to new and innovative lending products from the Student Revolving Loan Fund (SRLF).

This has come from Minister of Education Kay McConney, who also announced on Saturday night that the fund had successfully returned 12 years of profit without state financing because of the efforts of management and staff.

“Over the years the Student Revolving Loan Fund has approved more than 15 000 loan applications at a value of over $500 million,” she said at the SRLF’s 45th anniversary awards ceremony and dinner at Mahogany Ridge in St Thomas.

McConney said Barbadians from all walks of life had benefited from student loans which allowed them to contribute to the country’s development.

She added that while the fund had succeeded in not relying on Government financing, it had taken a compassionate approach to students and parents with financial challenges. The loan ceiling was raised to $125 000 and students engaged in part-time and online studies have benefited from loans.

In commending the management team, chaired by Permanent Secretary Betty Alleyne-Headley, and staff for their contribution to education, the minister said the SRLF would be making better use of technology. (HH)

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