President Boakai Launches $25 Million No-Collateral Student Loan Program to Boost Education in Liberia

By Konah Rufus

 In a landmark initiative aimed at enhancing educational opportunities for Liberian students, President Joseph Nyuma Boakai, Sr. announced the launch of a pioneering $25 million no-collateral student loan program in collaboration with Nekotech. The announcement was made during a ceremony at the Tea House, Executive Mansion, marking a significant step forward for the nation’s youth.

This groundbreaking program is designed to empower over 250 talented Liberian students, providing them with the chance to pursue higher education in critical fields such as Science, Technology, Engineering, and Mathematics (STEM), Business, and Artificial Intelligence (AI) at prestigious institutions in the United States and Canada. 

The initiative is part of the Government of Liberia’s ARREST Agenda, which is set to expand into the ARREST Agenda for Inclusive Development. This agenda prioritizes human capacity building, addressing the urgent need for a skilled workforce in the country. By eliminating the financial barriers typically associated with traditional student loans, the no-collateral scheme offers a transformative opportunity for young Liberians who have previously faced obstacles in accessing advanced education abroad.

“Today marks an extraordinary occasion for Liberia,” President Boakai stated during the launch. He expressed gratitude to Nekotech and its partners for their commitment to Liberia’s development, highlighting that the program enables young men and women to realize their dreams.

“This initiative will allow students to acquire the skills, knowledge, and leadership qualities that will be pivotal for our nation’s growth and prosperity,” he added. 

In his address to the student beneficiaries, President Boakai emphasized the importance of dedication, urging them to “seize this opportunity, study hard, put your all into it, engage deeply, and return with a commitment to give back to Liberia.” He underscored that their success reflects the success of the entire nation.

The launch of the Nekotech no-collateral loan program underscores Liberia’s commitment to cultivating a skilled and knowledgeable workforce, crucial for driving innovation and development across various sectors, particularly in STEM fields. The President believes this initiative sets the stage for a brighter future for Liberia, reinforcing the foundation for sustainable development.

The event saw attendance from government officials, committee members, and youth and student leaders from various organizations and universities, all gathered to celebrate this significant advancement in educational access for Liberian students.