Students welcome slash in loan repayment interest rates

By Michael Kaumba

The National Council of Student Unions -NACOSU- has welcomed government’s decision to reduce student loan repayment interest rates from 15 to 10 percent.

NACOSU Secretary General BRIAN CHIINZA says by addressing the challenges associated with high student loan interest rates, President HAKAINDE HICHILEMA’s administration has taken a significant step towards promoting inclusivity and equity in education.

Mr. CHIINZA also says the decision reflects a shared vision for a brighter and more prosperous future for Zambia, where education is a catalyst for social mobility and national development.

He has told ZNBC News in a statement that NACOSU is looking forward to continued collaboration with the government in matters that enhance the educational landscape and create opportunities for students to thrive.

On Monday, Government announced the reduction in student loans interest rates from 15 to 10 percent effective January 2024.

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