Tue | Sep 19, 2017

Opposition senator calls for urgent overhaul of Student's Loan Bureau

Published:Friday | April 7, 2017 | 4:47 PM
Sophia Frazer Binns – JIS Photo

Opposition senator Sophia Frazer Binns is suggesting that government urgently overhauls the operations of the Student's Loan Bureau (SLB).

Frazer Binns, who was speaking in the Senate this afternoon, said it was still difficult for the persons who need it most to access financing for education via the Bureau.

For example, the Opposition senator says the requirement for a guarantor to access funding from the Bureau should be removed to make it easier for borrowers.

According to Frazer Binns, the Bureau shouldn't require borrowers to provide guarantors because loans are unsecured.

She says this is not done by private financial institutions which offer similar loan products.

 

Opposition Senator Sophia Frazer Binns

In supporting a motion for a debate on funding tertiary education brought by fellow Opposition senator Wensworth Skeffrey, Frazer Binns says the government may need to sign an agreement with the private sector to increase financing options.

She says the government may need to consider offering tax incentives or credits to companies to increase the amount of scholarships and grants available for tertiary education.

The motion brought by Senator Skeffrey was eventually recommended for consideration to a Joint Select Committee of Parliament.