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New SLB policy - low grades could cost students loans

Published:Wednesday | March 4, 2015 | 3:39 AM

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.

 

Finance Minister, Dr. Peter Phillips.

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.