Introducing student loans in Jordan

In a meeting with the Minister of Higher Education and Scientific Research in Jordan, Dr. Wajih Oweis, we discussed a mechanism in which we can establish a publicly funded student financial assistance program. Our discussion was driven by the real need for such a program in Jordan. We estimated that in the academic year 2012-2013 about 40,000 students will require need-based financial aid in the form of student loans.

On the other hand, it is estimated that 80% of university graduates remain unemployed in their first year after graduation, in the absence of a national credit law, and with rising financial austerity how can we address this need? More importantly, our proposed solution must ensure that these financial assistance programs do not exclude the poor.

Over the past two weeks, I met with different financial and economic experts to discuss this and to hopefully prepare a suitable solution in the near future. 

(Photo courtesy of Ammonnews.net)