BRD student loan recovery – BRD Announcements:
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The Development Bank of Rwanda (BRD) provides loans for higher education at both undergraduate and postgraduate levels, and beneficiaries must be studying either in Rwanda or Abroad. The Bank finances any project aimed at contributing towards enhancing access and quality of education in Rwanda.
The Bank is mandated to recover all mature loans from past, present and future student loan beneficiaries.
- Any loan beneficiary is obliged to declare to her/his employer on whether he/she benefited from a student loan within 7 working days from the first date of employment.
- The employer is on his/her side required to inform BRD about recruitment of a loan beneficiary within 7 working days after the employee’s declaration. The employer also has an obligation to deduct from the employee’s gross salary a monthly repayment installment following the repayment plan agreed upon between BRD and the beneficiary.
- The amount deducted from the salary is deposited on the relevant bank accounts of BRD and the Employer is mandatorily required to make monthly declarations of the repayments made.
- Similarly, any dismissal or resignation of loan beneficiary should be immediately notified by the employer to BRD.
- The Concerned loan beneficiaries – are those who studied abroad or in Rwanda – on Government Student Loan Scheme since 1980, and who have not completed the mandatory repayment.
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For more information Visit https://edu.brd.rw/