The council of Ministers agreed to reduce the interest rate to 0% as per January 1, 2020. This 0% rate is applicable to new students who soon will apply for the Aruba student loan as well as students who already have an Aruba student loan agreement. This should make the Aruba student loan more attractive and help students pay off their loan easily when terminating their education.
Education is an essential element in the development of any country, and this decision should stimulate more students to pursue a higher education. The Government’s decision should help attract more local professionals to help build a solid economy for Aruba.