Almost 70% of those who obtained government loans to attend the University of Guyana (UG) are delinquent in repaying their loans which amounts to billions of dollars and among these are prominent members of society including magistrates and lawyers.
“It appears that many of these individuals are still around and should be pursued to have them settled their indebtedness,” a report by accounting firm, HLB, R. Seebarran & Co has recommended. The firm conducted a forensic audit into the UG Student Loan Agency for the period December 2011 to May 2015. In its report, submitted to Minister of Finance Winston Jordan in September, it highlighted the billions owned and urged a number of changes. The report was made publicly available yesterday.
It revealed that since the beginning of the programme, 25,335 students had obtained loans up to December 31, 2014. The total value of the loans was $9.1 billion. During the period 1994 to May 2015, the Government of Guyana approved $9.4 billion through the
