KINGSTON, Jamaica – As of April 1 this year the Student Loan Bureau will charge interest on the reducing loan balances for new and returning students.

According to Education Minister Ronald Thwaites, this move will result in new and returning students paying 20 per cent less in interest charges.

Thwaites made the disclosure Thursday while speaking at the Jamaica Dental Association 52nd Annual Convention in Kingston.

He also praised the Bureau for satisfying approximately 93 per cent of total applications received for the current academic year.

A news release from the Ministry of Education said the Bureau will disburse $4.2 billion in loans to approximately 12,500 beneficiaries.

The SLB has been able to achieve this, Minister Thwaites said, because it has been re-financed by inflows from the increased education tax, the Petro-Caribe Fund, a revolving loan from the HEART Trust/NTA, and increased collections from loan repayments.

Meanwhile, Thwaites lauded the first batch of locally trained dentists for their outstanding performances last year in examinations administered by the American Board of Dental Examiners and the Commission on Dental Competency Assessment based in the United States.

 The education minister underscored the importance of dental professionals to pursue continuing education and he commended the Jamaica Dental Association on granting continuing education credits to conference participants.