Tue | Jun 30, 2015

Thwaites: Bar migration of SLB delinquents

Published:Thursday | April 26, 2012

Monique Grange, Assistant News Editor

The Gleaner/Power 106 News Centre



The education minister Ronald Thwaites is proposing that a system be implemented at the country’s major airports, to prevent persons with outstanding bonds from migrating.



He was speaking on RJR's Hotline against the backdrop that some people who borrow money from the Students' Loan Bureau (SLB), often leave the country without paying off their debt.



Reverend Thwaites believes barring them from migrating would ensure that the guarantors for the loans are not left with the responsibility to repay the loans in cases where the borrowers cannot be found.



In the meantime, he said the ministry is working with the financial sector to define terms for student loans in an effort to implement other means to secure repayment and put less reliance on guarantors.



Last week, the executive director of the SLB, Monica Brown, disclosed that the bureau is owed $ 2.9billion in loans.



She told Parliament’s Public Administration and Appropriations Committee that since 2009, a total of 93 law suits have been filed against 280 guarantors to recover loans.



The SLB has recommended that changes be made to the law to allow mandatory deductions from the salaries of borrowers to service their loans.



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