THE EDITOR, Sir:
WE WRITE in reference to the letter written by Miss Yanique Douglas and published in the July 8 edition of The Gleaner.
We appreciate Miss Douglas' commendation for successfully achieving our mandate of ensuring that no eligible needy Jamaican is denied access to tertiary education by reason of finance.
We also thank Miss Douglas for her valuable suggestions but hasten to add that we already employ these strategies and others. This begins with full disclosure to applicants and guarantors regarding the responsibilities associated with the acceptance for the loan.
Further, just before repayment begins, each beneficiary receives a repayment schedule that gives the full details of loans inclusive of the minimum monthly payment and methods of repayment. In both instances they are clearly advised that repayment is not contingent on employment.
We do try to assist beneficiaries who can prove that they are unable to meet the full monthly payment to find workable solutions for their loans. In fact, we currently have arrangements with many beneficiaries unable to pay their scheduled monthly payment. This, however, does not include deferment of the payments, except in very extreme cases where health may be an issue.
We remind our beneficiaries that the student loan-revolving scheme is funded solely through repayment. It is therefore necessary to ensure the repayment of all loans to secure the viability of the fund for future generations.
We therefore encourage all beneficiaries to commit to the full repayment of their loans so that the Students' Loan Bureau may continue to assist other bright Jamaicans to pursue tertiary education.
I am, etc.,
LENICE BARNETT (MRS.)
Executive Director
SLB
