Grandmother, guarantor for her granddaughter, reports that Icetex didn't issue a loan for the semester and the payment increased by 530%. She could lose the apartment she inherited due to foreclosure.

Every day, we hear different testimonies from people who have debts with Icetex , either due to high fees that must be paid or due to complaints about operations within the Colombian Institute of Educational Credit.

A video released on social media by Catherine Juvinao , a congresswoman from the Green Alliance, shows the heartbreaking testimony of Marta Sánchez , who identifies herself as a grandmother and at the same time guarantor of her granddaughter who studies at the Colombian Dental University (Unicoc).

" False interest rate subsidy (...) I am responsible for the payments because she is a student ," said Sánchez.

According to the elderly woman's testimony, in 2019 she and her granddaughter obtained a 70/30 educational loan for the second semester , where 70% was financed and 30% paid monthly.

"We got the loan in 2019 for the second semester (...) 70/30 during the semester, 30% monthly, and at the end of the program, 70%. We took it with an interest rate of the CPI (Consumer Price Index) plus one point ," explained the woman and guarantor of the young student.

According to the woman, the situation became complicated when, in 2024, for the seventh semester of her degree, Icetex failed to transfer the money to the university: "What was the reason? Icetex says public universities come first." In other words, the transfers to private universities weren't being made.

Despite the fact that there was no transfer, Icetex demanded payment of $4,500,000, an amount that, according to Marta, did not correspond to the agreed amount.

After that event, Icetex asked them for a payment of $2,800,000 plus interest to be able to make the disbursement for the semester , but they were told that it was no longer possible because "the previous term had already passed."

"She studied the seventh semester because the University sent the paperwork to Icetex for payment and has her grades, but Icetex didn't send the payment," explained Marta Sánchez.

By then, the educational institution demanded the family pay for the semester that Icetex hadn't covered , in addition to the current semester, totaling $23,000,000. This is despite the fact that the granddaughter has earned grades and has so far fulfilled all her academic obligations.

In recent months, the family's financial situation has become more difficult, as monthly payments increased from $460,000 to $2,400,000, and last month they rose to $2,900,000.

Marta Sánchez also mentioned that her granddaughter earns minimum wage and is a senior citizen with a home she inherited from her parents, which has already been "threatened with foreclosure."

Finally, Marta Sánchez calls on congressmen to consider private university students in the same situation and approve reforms to Icetex: "Tuition has increased, and there's no way to pay it anymore, so what are we going to do? We kindly ask you to put your hand on your heart and approve the Icetex reform."

Can you imagine your grandmother losing her house because of Icetex? 🏠💔. That's what Mrs. Martha, co-signer of her granddaughter's loan, is experiencing. Her payment skyrocketed by more than two million pesos with the suspension of interest rate subsidies! Infamous 😩💔 #IAmOneOfThe234Thousand 🗣️👥 pic.twitter.com/baO0d0NA70

— Cathy Juvinao 🏛🇨🇴 (@CathyJuvinao) September 6, 2025

LATEST NEWS EDITORIAL