Audrey Sewell, Permanent Secretary in the Ministry of Education, has admitted that the two-year-old Government revolving loan scheme for teachers who are pursuing tertiary studies, has been hit by cash flow problems. In recent times, teachers have complained that they have not been able to access loans from the institution (Capital and Credit Merchant Bank) administering the scheme. Under the program, Capital and Credit Merchant Bank Limited (CCMB) finances 90 per cent of the tuition fees for teachers studying at the tertiary level … more here.
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