News

Jamaica Looking for Private Capital to Fund University Student Loans

By: Caribbean Journal Staff - February 27, 2012

Above: UWI Mona

By the Caribbean Journal staff

The Jamaican Ministry of Education is looking to attract private capital to fund student loans at the tertiary level, according to Education Minister Rev. Ronald Thwaites.

The government presently spends about 2 percent of the national budget on university education each year, which supplies about 80 percent of the cost of students at the University of the West Indies.

“There is no question about the continuing commitment of the state to the university, the issue is one of partnership and of balance,” he said.

Thwaites was speaking at the opening ceremony for the meetings of UWI’s Technical Advisory Committee on the Mona campus.

The challenge, he said, would be finding the financial resources for students of limited means.

“Can we broaden the definition of collateral so that more persons of limited means, without titles to valuable real estate, can also participate in reasonable banking proposals for the funding of their education?” He asked.

Thwaites also broached the idea of having the National Housing Trust target some of their capital investment towards student housing.

“As we deliberate, it is integral that we consider the financial challenges which we are facing as a region,” said Grace McLean, acting permanent secretary in the Ministry.

Popular Posts

The 10 Best Overwater Bungalows in the Caribbean, From Aruba to Belize

Overwater villas at Caribbean resorts aren’t just a novelty — they’re also among the most luxurious and beautiful accommodations you can stay in. And while all of the bungalows perched above the waves have their charms, some stand out among […]


The 10 Best Luxury All-Inclusive Resorts in the Caribbean, From Antigua to Jamaica

all-inclusive hammock cove

All-inclusive resorts are more popular than ever, particularly in the Caribbean. The all-inclusive concept just keeps winning over travelers, who have been drawn to the ease, comfort and convenience of the concept. But the biggest thing within the space isn’t […]


The Bahamas’ Atlantis Paradise Island Just Completed a $150M Renovation

walking on the beach in nassau

A new eatery by Michelin-star Chef Michael White. A new-look casino. State-of-the-art guest rooms and the Caribbean’s first Shake Shack.  The Bahamas’ Atlantis Paradise Island resort has officially completed a $150 million resort-wide renovation, a significant project that included a […]


Related Posts jamaica montego bay

LATAM Is Adding More Nonstop Flights to Montego Bay, Jamaica

Jamaica’s record-breaking tourism growth keeps heating up — and not just from traditional source markets like the United States.  That includes a growing number of travelers from still-untapped markets like Latin America.  And new nonstop flights on major carrier LATAM […]


From Montego Bay to Ochi, Why to Visit a Sandals in Jamaica Right Now

sandals south coast with trees

Dunn’s River Falls. The Pelican Bar. Seven Mile Beach. Rick’s. The White River. Rose Hall. Jamaica never stops calling.  Whether you’re looking for the bustle and energy of Montego Bay, the laid-back cool of Negril or the abundant natural beauty […]


American Airlines Is Adding Daily Flights to This Jamaica Hotspot 

american airlines jamaica nonstop

Secluded coves, sparkling turquoise water, the birthplace of James Bond. Ocho Rios, Jamaica has always been one of the island’s most sought-after destinations, from its venerable luxury resorts to its popular all-inclusives.  But it’s never had a nonstop flight from […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You