VP Jallow Launches D25m Interest-Free Student Loan Scheme

Fifty-three students will benefit from D25 million in interest-free loans under the first phase of The Gambia’s Students Revolving Loan Scheme (SRLS) and Endowment Fund, Vice President Mohammed BS Jallow has announced.

The scheme was launched Tuesday at the Sir Dawda Kairaba Jawara International Conference Centre.

Established by an Act of the National Assembly, the scheme is designed to expand access to higher and tertiary education by helping students finance their studies.

Launching the initiative, Vice President Jallow said it forms part of government’s commitment under the Recovery-Focused National Development Plan, Yiriwa 2024-2027, to remove financial barriers preventing students from pursuing or completing higher education.

“Financial hardship should no longer automatically determine who gets an opportunity to pursue higher education,” he declared.

According to the Vice President, the loans are interest-free, with beneficiaries expected to repay after completing studies and securing employment.

“The repayments will then be used to finance other students, allowing the scheme to continue supporting future beneficiaries,” he said.

He said the initiative will ease financial burden on families while helping tertiary institutions improve fee collection and reduce accumulated tuition arrears.

The Vice President recalled that he assented to the Students Revolving Loan Scheme Act in August 2025, describing the launch as translating government’s education financing commitments into action.

He charged the first 53 beneficiaries to take studies seriously and repay on time, stressing that sustainability depends on them.

“The money you repay will return to the Scheme and enable another Gambian student to access the same opportunity,” he warned.

He called on the Ministry of Finance and Economic Affairs, private-sector organisations, businesses, philanthropists and development partners to support the fund to reach more students.

“Investing in students will develop the skilled workforce needed for national development and create opportunities for young Gambians regardless of their families’ financial circumstances,” Jallow said.