Last Updated on May 20, 2023, 3:58 AM AST by Anthony Morris
The Prime Minister of St Kitts and Nevis, Dr Terrance Drew, recently featured in a press conference with the members of his cabinet. During the interaction with the media members, the prime Minister and his cabinet touched on several topics of national importance. Prime Minister Drew also discussed the Government’s stance on student loans at the press conference.
The Prime Minister of the country has committed to support the students of the country during their education. During the press conference, Dr Drew spoke to the media regarding the Graduate Finance Programme. Dr Drew said the Government will add the existing student loans with the Development Bank of St Kitts and Nevis (DBSKN) to their Graduate Finance Project.
Dr Terrance Drew stated that nder the graduate programme, Students will now receive a major reduction of the interest rate on their loans from nine per cent (9%) to five per cent (5%) per annum. The new rules will come into effect as of June 1, 2023. Prime Minister Dr Terrance Drew stated that the Government is conscious of our students’ financial strain after pursuing studies.
He stated that in line with this, the Government wants to make sure that we want that when students go to study, they can quickly transition into independent living. The prime Minister clarified that he had made this announcement earlier. The Government has entered a collaboration with the development bank of St Kitts and Nevis to facilitate easier loan terms for students.
The Government has claimed that they want to make the students more independent so that they can start living separately from their family right after their education. As per the Prime Minister of St Kitts and Nevis, Dr Terrance Drew, the Government has planned to freeze the interest on the student loans. Accordingly, the students do not have to pay large sums of money to pay off the accumulated interest on the loans.
Anthony Morris covers stories related to politics and regional developments. His in-depth reporting about governance and reforms makes him stand out in regional journalism, with a deep analysis of political trends and their impact on Caribbean communities.
