WILLEMSTAD – The government has written off more than ANG 44 million in student loan debt, highlighting longstanding flaws in Curaçao’s student financing system. According to the Financial Management Report, only about ANG 3 million in student loans remains actively serviced.
The report explains that years of compounded interest, weak enforcement and poor administration led to unmanageable debts for many former students. The decision to write off the remaining balances is intended to clean up the government’s books and close a problematic chapter.
The Ministry of Finance admits that the policy created moral hazard and stresses that future student financing arrangements must be clearer, fairer and more sustainable.