The Government of Guyana yesterday tweaked its eligibility criteria for the student loan write-off which it is offering to past University of Guyana students. The new criterion deals with eligible candidates’ proof of residential address in Guyana.
According to a notice posted on the Facebook page of Finance Minister Ashni Singh, eligible candidates will now have to present proof of residency in Guyana. This proof, it specified, can be in the form of a utility bill or registered mail, a bank statement that has been issued within the last six months (in the applicant’s name), or a driver’s licence.
Further, the notice explained that in the case of those who are currently non-residents of Guyana these individuals must provide proof that they worked in the country for three years following graduation.
“If at the date of submission of student loan write off application, person is non-resident in Guyana, persons subsequent to graduation, MUST provide proof of being employed or self-employed in Guyana for at least three years (e.g., a minimum of 156 contributions made to the National Insurance Scheme (NIS),” it said.
Last week, the Government announced its intention to commence phase one of its planned Student Loan Write-Off Programme for past UG students. Initially, the criteria for benefitting from the programme included individuals being able to demonstrate completion of their studies, having graduated and being subsequently employed for a minimum of three years in Guyana as well as having proof of a minimum of 156 NIS contributions. However, the latter criterion was removed a few days later.
This first phase, which is part of the Government’s Manifesto 2020, could potentially benefit more than 13,000 Guyanese who have $11 billion in student loan debt. Applications have already been opened and past-students have already commenced their submissions.
