UG revolving fund to cover student loans this year

The University of Guyana (UG) Student Loan Agency was cut from this year’s budget, however the overall net effect on the university will be negated by the use of the revolving Student Loan Fund.

Minister of Finance Winston Jordan said this decision was done to give the budget an ease.

During Friday’s post cabinet briefing, Jordan said “we are not going to abandon the students,” the revolving fund will be used instead as it currently has enough money to begin revolving on its own since the inception in 1994.

Further, he said the fund currently has a balance of approximately $1 billion which came from a combination of repayments,