Many costs of tertiary education
THE EDITOR, Sir:
It is out of frustration and a baffled financial life that I say tertiary-level education is for the elites. The financial obligations are too much.
After finding no other way of financing, one turns to the Students' Loan Bureau. In order to receive the loan, processing and insurance payments must be made. Understanding the reasons for these payments, one tries assiduously to source funding to pay them.
And, oh, did I forget to mention the thousands of dollars that must be paid to the university for their acceptance package? This forces us to then call one of our other relatives and highlight our poor but ambitious cause. All going as planned, we get the funds for the package and up to the university we go to make the payment.
For the next couple of months, we plan, 'hustle', and 'hustle' some more for our first year.
Our loan is approved, and with a big smile, we and our guarantors sign the relevant documents and begin to look ahead to the future.
After all the stress and hard work, we reach the pearly gates, only to hear, "Stop, young hopeful! Though your student loan was approved, you have to pay 25 per cent of your tuition, seeing that the bureau will not dispatch a cheque to us on time."
We are crushed and then left to ask, "Why us?" It must first be noted that if we had money, we would NEVER have applied to the bureau for aid. Second, if we had that 25 per cent, we would have placed it in some investment instrument that would guarantee maturity of our full tuition.
Although refundable, we just cannot afford the 25 per cent!