Announcement of Waivers for Borrowers of the Student Loan Agency

  • Announcement of Waivers for Borrowers of the Student Loan Agency
  1. Borrowers of the Student Loan Agency will be granted a 75 percent reduction in the accumulated arrears of interest on their accounts if they clear their indebtedness in full no later than August 31, 2016.
  2. Borrowers who wish to bring their accounts up-to-date will be granted a 50 percent reduction in the accumulated arrears of interest, if their accounts are brought up-to-date by September 30, 2016. If, however, a borrower defaults, subsequently, the interest so waived will be restored to the account.