KINGSTON, Jamaica — The Students’ Loan Bureau (SLB) has opened applications for its promised Debt Reset Programme for borrowers as well as a moratorium on certain payments following the passage of Hurricane Melissa.

“The Debt Reset Programme is an opportunity for our students to reduce loan balances, eliminate accumulated charges and establish a more sustainable path towards repayment. This initiative supports both current customers and those in arrears,” said SLB Executive Director Nickeisha Walsh, who was speaking during a post-Cabinet press briefing at Jamaica House on Wednesday.

Applications opened on December 1, 2025, but Walsh said the SLB site will be able to take applications online on Monday.

Under the Debt Reset Programme, 50 per cent of students’ interest arrears will be forgiven and there will be a 100 per cent waiver of all late fees and insurance charges. The programme ends in April 2026.

During this five-month period, the borrower must pay back 100 per cent of the principal arrears (overdue money excluding late fees and insurance charges), and 50 per cent of the interest arrears. The account will then be brought to current.

For students who are current (or have been paying their fees), a $100,000 credit will be applied to their accounts. A two per cent reduction will also be applied after a year if students remain current.

Currently, the SLB has 35,360 active loans amounting to a $29 billion debt; 8,890 of the loans are current, 11,634 are delinquent, and 14,836 loans are on moratorium.

Further to that, effective next week for Westmoreland, St Elizabeth, Hanover, St James and Trelawny, students in school will receive a $60,000 grant while borrowers out of school will receive a three month deferment on their loans.

Students affected by Melissa outside of the five parishes can also apply directly to the SLB to be included in assistance programmes.