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TEMPO.CO, Jakarta - The Indonesian Ministry of Higher Education, Science, and Technology (Kemdiktisaintek) is planning to launch a student loan scheme in August or September 2025. Deputy Minister of Higher Education Stella Christie announced that the ministry will collaborate with the Education Fund Management Institution (LPDP) and the banking sector to implement this program.
“We hope to launch it in August or September 2025,” Stella Christie said in a written statement on Wednesday, April 2, 2025.
She clarified that the ministry currently has no plans to create a new institution for educational loans and will instead work in partnership with LPDP, which operates under the Ministry of Finance, and the banking sector.
Under the proposed student loan scheme, banks will provide loans to students, similar to micro business loans (KUR). LPDP will cover insurance premiums and interest payments to the banks on behalf of the students, while the Kemdiktisaintek will act as the credit manager and guarantor.
“Students will repay the loan installments and interest to the bank. We are currently in the preparation stage,” Stella explained.
She further detailed that the loan scheme will involve interest, but students will not be responsible for paying it. “The fixed rate of interest will be paid by LPDP to the students at the beginning of the loan, to be submitted to the bank along with the installments,” she said.
This announcement marks a shift from a previous statement by Minister of Higher Education Brian Yuliarto. He had earlier indicated that his ministry was preparing to establish a loan institution specifically aimed at assisting students with tuition fees, stating that the plan was still in its formulation stage.
“So how can we engage the public to establish an institution as much as possible? This institution will provide minimal loans. Later, this institution will provide loans minimally,” he said when met at the Kemdiktisaintek Office on Friday, March 14, 2025.
Brian had also stated that students would repay the loans in installments after graduation. He expressed hope that the program would be implemented soon, as it is intended to support students facing financial challenges.
On the same occasion, Chair of Commission X of the House of Representatives, Hetifah Sjaifudian, welcomed the initiative. She noted that the loan scheme would serve as a solution for students who face financial difficulties but do not qualify for the Smart Indonesia Card for Education (KIP Kuliah) program.
M Rizki Yusrial contributed to the writing of this article.
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