REPUBLIKA.CO.ID, JAKARTA -- President Joko Widodo (Jokowi) has asked national banks to provide student loans. He believed student loan may provide a positive impact to education in the country.
"I wish to give you an assignment, which is a student loan program," he stated at a meeting with bankers here on Thursday.
He noted that the policy had been implemented in the US and, surprisingly, the value of all outstanding student loans has surpassed the total credit card loans.
"Total credit card loans in the US have reached US$800 billion, while total student loans have reached $1.3 trillion," he revealed.
Jokowi expressed hope that Indonesia could change the consumptive loans into productive ones with future vision. "So, please study it," he told the bankers.
He explained that bank credits could give an added value to education and intellectual development of children.
"So, please pay serious attention to innovative potentials; otherwise, they will be taken by others. They certainly will," he reiterated.
Jokowi also hoped that national banks would pay attention to start-up businesses, tourism, and lifestyle sectors.
"More and more people are doing business online through Facebook or YouTube. There is a huge opportunity there with regard to credit distribution," he added.
He also urged them to be pro-active to help small businesses move to digital platform.
"Lead them and help them shift to digital platform," he concluded.
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