THE GOVERNMENT OF ST. KITTS AND NEVIS AND DEVELOPMENT BANK OF ST. KITTS AND NEVIS (DBSK-N) JOIN FORCES TO SIGNIFICANTLY LOWER EXISTING STUDENT LOAN INTEREST RATES

BASSETERRE, St. Kitts and Nevis, May 31, 2023 (IMC Manager, DBSKN): The Government of St. Kitts and Nevis, in collaboration with the Development Bank of St. Kitts and Nevis (DBSK-N), are thrilled to announce a groundbreaking initiative that will bring substantial relief to individuals with existing students loans with DBSK-N. Effective June 1st, the interest rate for these existing student loans will be dramatically reduced from 9% to an unprecedented 5%. 

This momentous decision by the Government of St. Kitts and Nevis and DBSK-N underscores their unwavering dedication to reducing the financial barriers faced by students, enabling them to pursue their life goals with greater ease and peace of mind. 

To complete this process, eligible students are encouraged to follow these steps. 

For students whose loan payments are up to date, begin by calling our offices to make an appointment with an officer. Next, ensure that you take with you the following documents to your appointment (two (2) pieces of Identification Cards and proof of address). Be sure to notify your guarantors of the reduction in the interest rate and have them accompany you to your appointment or have them contact us. Once you’ve met with an officer and have signed all necessary documents this would mean that you have completed the process of reducing the interest rate on your existing loan. 

For students whose loan payments are not up to date, begin by calling our offices to make an appointment with an officer. Ensure that you take with you the following documents to your appointment (two (2) pieces of Identification Cards, a job letter, and proof of address). Your officer will assess your situation and provide the best possible solution to complete the process of reducing the interest rate on your existing loan. 

Our dedicated and knowledgeable staff are readily available to guide you through the process, providing support and answering any inquiries that may arise. 

This landmark initiative by the Government of St. Kitts and Nevis and the Development Bank reflects their shared commitment to the growth and prosperity of the nation. By reducing student loan interest rates, they aim to foster a society where education is a transformative force accessible to all, irrespective of financial constraints.

St. Kitts Branch 

1 (869) 465-2288 

Ext 1106, 1247, or 0 for our Customer Service Representative 

Nevis Branch 

1 (869) 469-5416/469-1443/469-1311 

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