SLB to provide $60,000 grants to students in five hardest-hit Melissa parishes

Jamaica Gleaner | 2025-12-03 | Original Article

The Students' Loan Bureau (SLB) has announced that students attending schools in Westmoreland, St James, Hanover, St Elizabeth, and Trelawny will each receive a $60,000 grant under a new post–Hurricane Melissa support programme.

 

 

SLB Executive Director Nickeisha Walsh made the disclosure at a special Melissa press briefing at Jamaica House in St Andrew today.

 

 

Walsh said the grants will go to 1,948 students.

 

 

Further, she announced that SLB loan recipients living in the five parishes will not be required to make any payments for three months, beginning November.

 

 

There are 4,448 such persons.

 

 

Walsh said relief support will also be given to SLB beneficiaries outside of the five parishes, but that this will be done on a case-by-case basis.

 

 

Meanwhile, Finance Minister Fayval Williams also confirmed the implementation of the promised SLB debt reset programme, which includes the removal of guarantors, reduced interest rates, and extended repayment periods of 15 to 20 years.

 

 

“It’s a new SLB,” the minister said, pointing to the election promise and service improvements, including online access to loan balances.

 

 

The programme runs from December 1, 2025, to April 30, 2026.

 

 

The SLB executive director outlined that the SLB currently has 35,360 loans on its books, of which 8,890 are current, 11,634 are delinquent, and 4,836 are under moratorium.

 

 

Under the debt reset programme, 50% of interest arrears, 100% of late fees, and 100% of insurance charges will be waived.

 

 

The borrower must pay 100% of the principal arrears and 50% of interest arrears on their accounts as of October 31, 2025.

 

 

These sums must be paid within the five-month window of the programme.

 

 

Those in good standing and actively paying will receive a credit of $100,000 to their accounts.

 

 

If the balance on the account is under $100,000, then the sum that is owed will be credited.

 

 

Walsh said this giveback is to encourage loan borrowers to continue to pay their balances.

 

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