The World Bank has awarded a USD300 million loan to help Colombia’s national student loan agency provide poorer students with better access to higher education. With the bank’s support, Instituto Colombiano de Credito Educativo y Estudios Tecnicos en el Exterior (ICETEX) will give loans to low-income students, based on academic merit and financial need. “In the absence of student loan opportunities open to both public and private institutions, many talented low-income students would be unable to enroll in tertiary education. The revolving nature of student credit makes the use of this demand-side mechanism more fiscally attractive for the Government and students alike,” said World Bank director for Mexico and Colombia Axel van Trotsenburg. (Press Release: Colombia: WB loan to support low income college students/World Bank)
