KABUL, Afghanistan — Students at a school in Afghanistan have learned to make a living using the internet, but it may not be easy for them to afford to pay back their loans.
Kabul Public School, located in a mountainous area that is considered the heartland of the Taliban, has a student loan interest rate of 5% for borrowers who have been there for five years.
The interest rate for borrowers with more than five years of service is 4%.
The interest rate is part of a larger increase in the cost of living that has also been a growing concern for many Afghans.
The government recently announced a series of economic reforms, including lowering the minimum wage to $6.50 an hour, lowering the retirement age to 65 and making the cost-of-living adjustments to tax, benefit and education.
Afghanistan has been in a prolonged financial crisis since the global financial crisis, and unemployment has been a persistent problem.
The country’s economy contracted for the fourth straight year in 2016, and there is still a big question mark over whether the country will get out of this financial crisis unscathed.