ESP Education Loan: Was the Application Window Truly Open?

The two notices released by the Bank of Bhutan  regarding the ESP Education Loan Scheme for the 2026 Summer Intake have raised serious concerns among students and parents.

The first notice announced that the application window had opened and invited eligible students to submit their applications before 30 June 2026. This gave the impression that applicants would have adequate time to prepare documents, submit applications, and be fairly assessed based on their financial needs and eligibility.

However, the second notice, issued only hours later, stated that the application window had been closed effective 2 June 2026  due to the exhaustion of allocated funds.

This sequence of events raises an important question: Was the application process genuinely intended to evaluate students based on need, or was it effectively operating on a first-come, first-served basis from the very beginning?

The purpose of an education loan scheme, particularly one designed to support students who require financial assistance, should be to identify and assist those most in need. Such programs are generally expected to allow sufficient time for students from different backgrounds and locations to prepare and submit their applications. A meaningful review process should then assess applicants based on transparent criteria such as financial circumstances, academic requirements, and overall eligibility.

Closing the application window within approximately eight hours of opening creates the perception that the announcement was merely a procedural formality rather than a genuine opportunity for all eligible students. Many students may not have even seen the announcement before the scheme was closed. Others may have been unable to gather the required documents in such a short period.

While the bank has explained that the closure resulted from the exhaustion of available funds and has indicated that applications will be processed on a first-come, first-served basis, this approach appears inconsistent with the expectation that educational assistance should prioritize need over speed.

Students and parents deserve greater transparency regarding:

The total funds allocated under the scheme.

The number of applications received.

The criteria used to assess and prioritize applicants.

Why the application period remained advertised until 30 June when funds could be exhausted within hours.

Education financing schemes play a crucial role in supporting the aspirations of young people. To maintain public confidence, future application processes should ensure adequate notice periods, transparent selection criteria, and equal opportunity for all eligible students to apply.

The issue is not merely that the funds ran out quickly; it is whether every deserving student was given a fair and realistic chance to compete for those funds in the first place.