Cabinet Approves EC$4.2 Million for Student Loan Debt Relief

by: - July 31, 2020
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EC$4.2 million has been approved for student loan debt relief by Cabinet.

Honorable Finance Minister and Prime Minister, Roosevelt Skerrit made this announcement at his 2020/2021 budgetary address.

“Cabinet has recently approved an amount of $4.2m dollars representing the 40% student loan debt relief which was announced in November of 2018,”he said in Parliament on Tuesday.

The Hon Prime Minister admonished young Dominicans not to waste this opportunity.

“The grants which we have settle very shortly, will benefit several of our young people and provide the space required to further invest in themselves and the country.

He continued, “Just imagine you take a loan of $100,000 and the government is giving you $40,000.”

Hon Prime Minister Skerrit believes an educated workforce is critical for national growth.