Around 11,000 young Colombians will be able to access in 2023 the economic relief provided by Icetex for higher education programs ranging from subsidized interest rates to maintenance support.
(Historic announcement! Icetex will offer interest-free educational loans).
These benefits are part of the current call for credit, which focuses on providing more support and alternatives to the most vulnerable population in the country’s regions.
“These benefits are essential to ensure more equal conditions through a more humane Icetex with students. Not only that: there will be a total of 11,000 beneficiaries who, in addition to these subsidies, will have the opportunity to forgive 25% of their credit if they graduate from their academic courses, as established in the funding lines to which they applied. “said the president of the institution, Mauricio Toro.
The 11,000 beneficiaries of subsidies are part of the 31,000 people who will access training credit for the first time during the call open until 31 March 2023.
(Icetex will forgive the debts of thousands of young people: find out if you are a beneficiary).
To reach 11,000 subsidized credits, there are 5,000 positions to be granted, applications for which close on 24 December.
All credit applications must be made without intermediaries and directly to https://web.icetex.gov.co/creditos. Icetex procedures are performed free of charge.
Those accessing subsidies are prioritized for having a higher level of vulnerability and for being part of the established population groups: young people with a Sisbén IV score not exceeding C7, or belonging to the population protected by the constitution: indigenous, victims of the conflict, reinstated, with disabilities or who are part of Red Unidos.
Of the top 6,000 subsidized beneficiaries by 2023, 59% belong to the population of Sisbén, 26% to the victims, 14% to the indigenous people and 1% due to their disability. All belong to the traditional long-term credit lines or the special constitutional protection line.
(Icetex: Increase budget to forgive 25% student debt).
And that’s not all: as part of the measures to ensure an Icetex with fairer conditions for its users, with the tax reform, the beneficiaries of the credit who do not have a subsidy will have from 2023 and during its study period the interest rate of 0 points, i.e. CPI (inflation) + 0 points.
Those on benefits, their credit results in a rate of 0 (assessed only by the annual CPI) and maintenance or maintenance support which is currently $955,618 per semester of study (and which by 2023 will be assessed according to the CPI), plus the partial forgiveness opportunity mentioned above.
Icetex currently has 407,769 people with repayable credit who are studying or in the process of paying for credit. Of these, 70% (284,628) have a tariff contribution and 41% (168,015) receive a maintenance contribution for daily expenses.
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