Students' Loan Bureau to launch 'Every Dollar Counts' campaign
Jovan Johnson, Gleaner Writer
The Students' Loan Bureau (SLB) is to launch a new initiative in its bid to reduce the high rate of delinquency.
The initiative dubbed 'Every Dollar Counts' is to be launched tomorrow.
The delinquency rate now stands at approximately 30 per cent, with approximately $2 billion outstanding in arrears.
Delinquency refers to accounts which are past due for 90 days or more.
A statement from the agency says the campaign will be geared towards recovering outstanding debts from beneficiaries.
The SLB says it will be stepping up its drive towards collection by improving communication and implementing suitable payment arrangements.
These will be aimed at encouraging beneficiaries to make regular payments on their outstanding loan balances.
The SLB says it will also be encouraging loan beneficiaries to make payments of any amount during the period they are in school.
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