SLB to name delinquents November 30
The Students' Loan Bureau (SLB) says come November 30, it intends to start its latest campaign to publicly name and shame delinquent borrowers, using pictures.
It has been the policy of the SLB to publish the names and pictures of delinquents, even as it encourages beneficiaries experiencing difficulties in repayment, to communicate with the bureau.
It's hoping that the latest campaign to force repayment, will reduce the more than $2 billion owed to by graduates who have refused or cannot repay.
In a newspaper advertisement, the SLB said delinquent borrowers paying directly to the Bank of Nova Scotia, National Commercial Bank, PayMaster or Bill Express must advise the bureau of their payments.
Delinquency refers to accounts which are past due for 90 days or more.
Last year, the SLB said the delinquency rate was about 30 per cent, the same figure that was reported in 2012.
And overall, 12 thousand accounts are in arrears.
The SLB funds studies of approximately 30 per cent of the island's tertiary students.
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