THE EDITOR, Sir
The Students' Loan Bureau (SLB) is incompetent beyond reason. Students are willing to repay their loan as soon as they obtain employment, but if the facilities and resources are not in order to do so, what do you expect the result to be?
The SLB needs to get its act together - and fast. After graduating from university in 2012 and joining the long unemployment line, it was imminent that I would have had an outstanding balance on my account. As soon as I found a job, I started payment by salary deduction.
Surprisingly, I found out recently that the SLB decided to formally write to a guarantor whom I had communicated CLEARLY to the loan officer at the time to remove and replace from three years ago, only to discover years later that they did not act accordingly to update my records.
This type of incompetent behaviour is unacceptable!
After meeting with them to address this error, instead of accepting and apologising for the lender's irresponsibility, its process of handling internal error involves blaming the student and at this point, advises on how to change a guarantor.
Why is it that the procedure for replacing guarantors was not properly explained initially, rather than accepting the information given and leaving the impression that the changes were made? Why wasn't the file updated?
The lesson now is to keep a paper trail! A request for a financial statement for every quarter of the financial year was made instant of the embarrassing and frustrating realisation. That particular officer refused to do so.
What it means is that as students, we are to allow incompetent people to dictate to us what our financial position is and rob us blind! Regardless of that particular officer's statement, a formal request has been made and I expect cooperation.
In this the 21st century, a financial statement should be provided to all students as soon as the loan repayment begins. Why should a student write a letter to request this vital information, which should be provided to all students after completion of their studies?
SLB, you need to get your act together!