“THE Government’s Students’ Loan Bureau (SLB) is facing a “significant challenge” in meeting the projected $4.2 billion in disbursements to tertiary institutions this year.

According to SLB Executive Director Monica Brown, only $1.7 billion or 41 per cent of the projected $4.2-billion disbursement has been identified, leaving a gap of $2.5 billion. The bureau, she said, has been talking with financial institutions with the hope of securing funds to close the gap.” – The Jamaica Observer

Brown “also noted that the high levels of unemployment, along with what she said was a culture of entitlement among some SLB beneficiaries, have resulted in a high rate of delinquency which has served to exacerbate the funding concerns of the SLB. She said a study has revealed that approximately 49 per cent of students who graduated in 2010 could not find a job or are underemployed.” –

A proposal has been made for the laws to be amended to enable deductions at the source of income, which she said would help the SLB to collect from borrowers. – Jamaica Gleaner

 

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