BUDGET 2024: Gov’t to wipe out UG student loans

The People’s Progressive Party Civic (PPP/C) government has promised to make tertiary education free by 2025 and on Monday Finance Minister Dr. Ashni Singh announced that the government will this year begin to wipe out loans owed by University of Guyana (UG) graduates.

“…we will commence the first phase of eliminating outstanding loans owed by graduates of the University of Guyana, on the condition that these graduates can demonstrate proof of being employed or self-employed in Guyana after their graduation, for a minimum period to be specified,” Dr. Singh announced.

The Finance Minister presented the 2024 National Budget on Monday at a sitting of the National Assembly held at the Arthur Chung Conference Centre at Liliendaal, Georgetown.

In December, President Dr Irfaan Ali said the government will deliver on its promise to make university education free and will undertake a step-by-step approach from 2024. During a year-end interview with the News Room, President Ali said the government would deal with students paying loans first.