University and college students will be forced to drop out of school or find alternative ways to raise funds to aid in their higher learning. This is result to the government planning on cutting off loans for 95,000 students.
The Higher Education Loans Board says that the Covid-19 pandemic has drained it's funds forcing them to reduce the amount of students they can aid. The loans will not be given to 60,000 University students and 30,000 students in technical colleges. The CEO Mr. Charles Ringers said that some students from low income backgrounds will be suffer from the cut and may be forced to drop out.
HELB said that it has reduced the amount located to students from 45,000 to 38,000 for University students. However the amount issued to technical colleges students stagnated at 40,000 where they are said to benefit.
Colleges have been known as the largest beneficiaries of the students loans since it was created. The government pays part of their fees and just like University students are issued with student loans. The loan board intends on loaning 545,000 students with 340,000 being University students and 110,000 technical college students.