KINGSTON, Jamaica — In response to Hurricane Melissa’s devastating impact, Jamaica’s Students’ Loan Bureau (SLB) has activated comprehensive financial relief measures for student borrowers. The initiative includes a landmark Debt Reset Programme and targeted payment deferments for affected regions.
SLB Executive Director Nickeisha Walsh announced the emergency measures during a Wednesday post-Cabinet briefing at Jamaica House, characterizing the program as both a recovery mechanism and long-term financial rehabilitation opportunity. ‘This debt reset provides our students with a viable pathway to reduce outstanding balances, eliminate accumulated charges, and establish sustainable repayment structures,’ Walsh stated. ‘It’s designed to support both current payers and those in arrears.’
The Bureau commenced accepting applications on December 1, 2025, with full online functionality scheduled to activate Monday. The Debt Reset Programme features substantial financial concessions: 50% forgiveness on interest arrears alongside complete waiver of all late fees and insurance charges. Participants must clear 100% of principal arrears and 50% of interest arrears during the five-month program window ending April 2026 to achieve current account status.
Borrowers maintaining current payments receive immediate $100,000 account credits, with additional 2% reductions applied after twelve months of consistent payment history. The SLB’s current portfolio reveals 35,360 active loans totaling $29 billion debt, with approximately 25% considered current, 33% delinquent, and 42% under moratorium status.
Concurrently, the Bureau implemented geographic-specific relief for parishes hardest hit by Melissa—Westmoreland, St Elizabeth, Hanover, St James and Trelawny. In-school students from these regions qualify for $60,000 grants, while graduated borrowers receive three-month payment deferments. Students outside these designated parishes may apply directly to SLB for individualized assistance assessments.