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BASSETERRE, ST. KITTS — April 6, 2025 — Outrage is spreading across the Federation as the Development Bank of St. Kitts and Nevis imposes a controversial new $13.50 fee on loan payments — a move critics have blasted as an attack on the poor and working-class citizens, especially those burdened by student loans.

The institution, is now forcing borrowers to pay to pay back their loans.

According to a notice recently issued by the Bank, effective April 1, 2025, a loan payment processing fee of EC$13.50 will be charged every time a borrower makes a monthly repayment. This fee applies to payments made via salary deductions, standing orders, or online banking platforms. For most student loan holders, this means an additional EC$162 a year — on top of their interest and principal.

“This is madness,” said one young professional who is still paying off their student loan. “They lowered the interest to make it look good, but now we’re getting squeezed with hidden fees. It’s like punishing us for trying to be responsible.”

This new fee structure comes amidst growing speculation and public scrutiny surrounding the Bank’s recent lavish spending spree — including reports of costly office renovations, real estate acquisitions, and luxury vehicles for senior management. Critics have also raised alarm about the rapid increase in high-level executive appointments, which some allege are political payoffs disguised as promotions.

Observers are calling the move both “tone-deaf” and “exploitative,” particularly during a time when families are grappling with rising costs of living and stagnant wages.

“This is a betrayal of public trust,” one financial analyst remarked. “You cannot claim to empower people through education and business loans, then bleed them dry with nickel-and-dime tactics.”

Social media has erupted in anger, with citizens demanding transparency and a reversal of the new charges.

As pressure mounts, all eyes are now on the Bank’s leadership and the government officials linked to these developments. The people want answers — and they want them now.

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