Kingston, Jamaica, 11 September 2026
Former students who have fallen behind on their loan repayments can now apply for relief under the Students’ Loan Bureau (SLB) Debt Reset initiative without leaving home, after the Bureau moved the whole application process online.
The programme, which was originally due to close on 30 April 2026, now runs until 31 December 2026, giving borrowers a little under four months from today to take part.
Who qualifies and what is on offer
The initiative is aimed at holders of Targeted Loan accounts that were in arrears on 31 October 2025. Borrowers in that position who pay the required outstanding sums during the programme period have all late fees and insurance charges written off, along with half of their interest arrears.
Those who kept their accounts up to date are not left out. Borrowers whose loans were in good standing on 31 October 2025 can receive a one-off credit of up to $100,000 towards the principal.
How the online process works
Speaking at a media forum on 24 August, SLB Debt Recovery Manager Owin Watson explained that applicants first register on the Bureau’s website and pass its identity verification and validation checks. After that, they are given access to a dedicated Debt Reset platform where they pick a plan they can afford.
Borrowers may choose either to pay off their loan completely or simply to clear what they owe in arrears. Payment plans last between two and five months, and every option must be finished by December, when the programme ends. The last stage involves completing a set of declarations, after which the system confirms the submission and produces a promissory note setting out the terms of the chosen plan.
Why it matters for household budgets
For many young adults, student debt sits alongside rent, utility bills and, for some, the first steps towards saving for a home. Arrears and accumulated penalties can weigh on a borrower’s finances for years. Writing off fees and a share of the interest could make it noticeably cheaper to get back on track, and freeing up that money may help households focus on other priorities such as building a deposit.
Borrowers who are unsure whether they qualify, or who need help with the process, can contact the SLB directly before the December deadline.
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