KINGSTON, Jamaica, CMC- The Students’ Loan Bureau (SLB) has extended the period of its Debt Reset Program to December 2026, enabling borrowers to regularise their loan accounts through structured repayment arrangements and targeted financial relief, including waivers on late fees, insurance charges, and interest arrears.
It also provides incentives for those customers who maintain good standing.
The program was initially slated to run from December 1, 2025, to April 30, 2026. Still, SLB executive director Nickeisha Walsh said the extension is intended to give customers more time to benefit from the initiative.
“Based on our customer feedback, they recognized that their arrears were large and, as such, they were not able to make the payments within the five months. We had customers with arrears of J$2,000,000, J$500,000,,and J$1,000,00000 (OnJamaican dollar = US$0.00808 cents). By extending the program to December, we are providing more flexibility for them to make payments while enjoying the benefits,” Walsh said.
Persons eligible for the program are those who accessed the Targeted Loan Facility, with Walsh saying, “it is for those customers who had an in-school moratorium and then went into repayment.
“It’s for those customers who are in good standing or in arrears. If you’re in good standing, you’ll receive a benefit of up to J$100,000 on your loan balance. If you’re in arrears, you’ll get the opportunity to get a 100 percent waiver on insurance, a 100 percent waiver on late fees, and a 50 percent waiver on your interest arrears,” she said.
For the program, customers in good standing must be current on their repayment obligations for at least 1 year and must not be more than 30 days past due.
Walsh said the benefits are not automatic and customers must apply via the SLB website.
“They would have to visit our website and click ‘Start Onboarding.’. This is where customers will validate their information and log in. They can then select the Debt Reset option or visit slbja.com to sign up for the benefit. If you have not signed on to the portal and applied, the benefit will not be applied automatically,” she said.
Over 21,000 students are currently eligible to enroll in the SLB Debt Reset.
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