New SLB policy - low grades could cost students loans
The Students’ Loan Bureau (SLB) has put in place a new policy which will see students being denied loans if their grades are low and if the demand for loans is greater than the amount available for on-lending.
Finance Minister Dr Peter Phillips said during yesterday’s sitting of Parliament’s Standing Finance Committee that the SLB’s total amount for on-lending is $4 billion.
He said that there will only be need to use the new policy if the demand outstrips the availability of funds.
Some $2.9 billion has been set aside in the Estimates of Expenditure for funding to the SLB and Phillips said that the entity’s net collections are $1.5 billion.