HOW BRD WILL MANAGE STUDENT LOANS The Development Bank of Rwanda (BRD) will work towards addressing issues that affect the recovery of students loans, the banks Chief Executive Officer has said. Kanyankole’s remarks follows the bank’s takeover of the higher education students’ loans scheme from the Rwanda Education Board (Reb). Kanyankole said there is need to get students and the general public to understand that the funding is in form of a loan and like any other financial institution, at some point you have to pay back the loan together with an interest. “People need to understand that it will not be scholarship but a loan that people will have to pay back. Between now and the next three months we will agree jointly with the Ministry of Education on modalities before implementation by September 2015,” he said. The government is struggling to recover some about Rwf70 billion it has lent out through the Students Financing Agency (SFAR) since the 1990s. In a detailed interview, Alex Kanyankole, spoke to The New Times’ Collins Mwai on how the bank plans to handle students loans and other issues including changes within BRD in the wake of Atlas Mara Group acquiring a majority stake within the bank. newtimes.co.rw/section/article/2014-12-08/183822/
Posted on: Mon, 08 Dec 2014 09:31:32 +0000
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