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SLB to publish names and photographs of delinquent borrowers June 28

Published:Monday | June 15, 2015 | 6:12 AM
A Students' Loan Bureau borrower is deemed to be delinquent if he fails to make a payment to his account in 90 days or more.

The Students' Loan Bureau (SLB) says come June 28, it will begin publishing the names and photographs of delinquent borrowers.

A borrower is deemed to be delinquent if he fails to make a payment to his account in 90 days or more.

It has been the policy of the SLB to publish the names and pictures of delinquents, even as it encourages beneficiaries experiencing difficulties to communicate with the bureau.

The SLB is owed more than $2 billion by tertiary-trained graduates who have refused or cannot repay their loans.

In a newspaper advertisement, the SLB said delinquent borrowers paying directly to the Bank of Nova Scotia, the National Commercial Bank, PayMaster or Bill Express must advise the bureau of their payments.

Meanwhile, the SLB is reminding borrowers that they are legally obligated to provide their employment details. 

It says failure to comply or the provision of false information will result in legal action being taken. 

Last month, the SLB announced increased fines for beneficiaries who fail to make their payments on time and in full.