Prime Minister and Minister of Finance, Hon. Dr. Terrance Drew. His comments were made during his press conference on Thursday May 18th, carried live on VON Radio.

Additionally, the comments were in relation to the Graduate Finance Project. The Finance Project was launched by the Government of St. Kitts and Nevis on April 6th, 2023. Under the initiative, the interest rate on new student loans attained through the Development Bank of St. Kitts & Nevis (DBSKN) will be reduced to five percent per annum for loans up to EC$100,000.

It also provides a grace period of four and a quarter years with a 15-year repayment term. It includes EC$15,000 credit to service the student loan during that period, which eliminates the payment of interest for four years, and three months.

The Graduate Finance Project enables students returning to the Federation from university, to enjoy savings of up to EC$50,000 or more.