Three weeks ago the DFC unveiled plans to give across the board discounts to those with delinquent housing loan, in the hopes that they could work out a plan which would not see them end up on the street. This week, the ones getting the break are students.

Over 1500 borrowers who made student loans from the DFC will benefit from the new Cabinet approved program.

  • The DFC will write off and forgive all outstanding balances on student loans which were made for an original amount of $5,000.
  • Those are mostly loans made to students who pursued studies in Belize; and they are 818 persons with a collective debt of $3.3 million dollars.

Those who borrowed more than $5,000 for education will also get a break.

  • Those who are servicing their loans and can pay out the loan, "spot-cash" will get a 30% discount,
  • those who can't pay it out, but are servicing the debt, will get 25% off, a
  • nd non performing loans will be offered a 20% discount.
  • 689 DFC debtors fall into this group and they owe a combined $3.1 millions.

Details of the payment plan haven't been announced but, like the housing one that preceded it, the offer is expected to be open for a limited time.

Tags DFC Belize