By Samuel Sukhnandan
In a recent press conference, General Secretary of the PPP/C and Vice President, Dr. Bharrat Jagdeo, announced that employment verification and National Insurance Scheme (NIS) contributions will not be required for phase one of the student loan debt write-off for Guyana’s tertiary students.
The government’s initiative aims to provide over 13,000 Guyanese with $11 billion in student loan relief, particularly focusing on University of Guyana (UG) students.
Initially, the eligibility criteria stated that individuals must have graduated, been employed, or been self-employed in Guyana for at least three years, supported by a minimum of 156 NIS contributions.
However, Dr. Jagdeo revealed that the government has reevaluated this requirement, recognizing the potential barriers it may pose to some eligible candidates.
As a result, changes have been made to facilitate greater accessibility to the debt relief program.
Dr. Jagdeo emphasized the government’s commitment to gradually moving towards free university education, starting with the implementation of the first set of debt write-offs.
This initiative is expected to benefit numerous citizens and alleviate the financial burden associated with tertiary education.
Additionally, the government has pledged to establish a mechanism to assist students who have already paid their dues to the university but are currently repaying loans to commercial banks.
This holistic approach aims to support students at various stages of their educational journey, ensuring that financial constraints do not hinder access to higher education.
The announcement has received widespread endorsement from students at the University of Guyana and beyond, who view the debt write-off scheme as a significant step towards promoting equitable access to education and alleviating the financial challenges faced by many.
As the government continues to prioritize education and human development, initiatives like these play a crucial role in shaping a brighter future for Guyana’s youth.