Beneficiaries urged to repay loans

Minister of Education, Science, Technology and Innovation Ronald Jones has given the assurance that outstanding loan payments, due to the Student Revolving Loan Fund (SRLF), will be collected.

Speaking at the Staff Awards Dinner of the Fund, where he applauded the hard work of the staff and management of the statutory entity, Jones said the fund which has been in existence for 40 years has become “innovative and responsive to the needs of applicants”.

He stated that in addition to the hard work of the staff and management, additional features have been added to make the fund a viable option for Barbadian students who have no other financial options.

“The loan limit increased from $30,000 to $50,000 and then in 2010 to $100,000. In addition, other features such as lending for persons studying part-time and online; alternative security besides two guarantors; the increasing of the maximum age for applicants from 35 to 50 years and the reduction of the interest rate to four per cent are all in an effort to ensure that more Barbadians could benefit,” he added.

However, the minister also stressed that the existence of the Loan Fund is highly dependent on the “ability and willingness of its beneficiaries to repay their loans,” while also giving the assurance that the Fund will continue to fulfill its responsibility to collect outstanding loan payments and encouraging debtors to recognise their responsibilities as well.

“As indicated in its name, the Student Revolving Loan Fund was created to be a revolving fund. It is incumbent on all Barbadians who have benefitted from loans from the Fund to keep it sustained by honouring their legal and moral obligation to pay back, in a timely manner, thereby ensuring that other Barbadians are extended the same opportunity to fulfill their academic aspirations,” Jones said.

23 Responses to Beneficiaries urged to repay loans

  1. Saga Boy December 10, 2017 at 11:54 pm

    I know of bajans living overseas who have benefited and who refuse to repay. You should publish their names.

    Reply
  2. Tête La
    Tête La December 11, 2017 at 5:54 am

    Yup including all if they are now politicians, politician friend or political pimps

    If any of you all benefited, then you know what you have to and should of done

    Reply
    • Claire Battershield
      Claire Battershield December 11, 2017 at 11:13 am

      Once you know. I know at least one person and heard of others who had to go through hoops and still did not get loans. They have made it without. These were people I am sure who would have repaid. But no they were not friends or friends of. Tell them start with self then friends.

      Reply
    • Kym Reigns
      Kym Reigns December 11, 2017 at 12:35 pm

      Claire Battershield The three times I went to SRLF to apply for student loans they made me feel like I was a second class citizen. They keep changing up the requirements, lowering the money, and I had to give up college spaces 3 times because they cant get their act together. Not to forget the time when they got to my application the day my course was to start and I had already given up my spot months ago. Not me and them boh, I would face the bank forst or take myc hances with a lottery ticket

      Reply
    • Claire Battershield
      Claire Battershield December 11, 2017 at 12:41 pm

      Girl that’s them for you. A whole lot of turn around. To think one person was studying a course in an area that is much needed in Barbados. Now talking about pay back. They need to tell whomever they gave it to they are expected to pay .Just like the government houses they make people believe they don’t have to pay for

      Reply
    • Rubertha Blackman
      Rubertha Blackman December 11, 2017 at 7:05 pm

      Black Pawn song “I ain’t know nabody”. As long as you don’t know so called big ups your ass is grass bout hey. I was once in a government office making an application. When somebody walk in and said they wanted to speak to whom ever. When question the person called out a minister name and said he sent them. So de MoE can maybe give us his list of defaulters he sent. Stupse.

      Reply
    • Tête La
      Tête La December 11, 2017 at 8:35 pm

      The same way I had to get a tax clearance to transact certain business, any person seeking to contest a seat for a constituency should have to pay all their outstanding student loans payments

      Reply
  3. hcalndre December 11, 2017 at 5:54 am

    Have the Minister of Education, Minister of Science, Minister of Technology and Minister of Innovation with all those titles/hats/ belts and is listed of having 5 jobs at one time, paid his loan back or he enjoyed the free Ed, he and his coterie.

    Reply
  4. milli watt December 11, 2017 at 8:04 am

    you could really go and find a job PICKING POND GRASS

    Reply
  5. Natasha Blanchard
    Natasha Blanchard December 11, 2017 at 8:09 am

    So the people who got the loan dead & gone? #askingfuhafriend

    Reply
  6. Michael Crichlow
    Michael Crichlow December 11, 2017 at 8:59 am

    Aren’t loans insured ?and become nil and void upon the death of the borrower!

    Reply
  7. Anton Brown
    Anton Brown December 11, 2017 at 9:26 am

    Unless these students are gainfully employees, how are they going to pay back the loans. Even if they employeed but they are only making minimum salary, the time in which they are given to pay back a loan extend or double the original loan repayment date, when interest is added. What government need to worry about is making sure there are enough decent paying jobs available for these students so that they can have income to repay their debt, that’s the main reason a student loan was invented. The entity lending the loan look at the future value of the student once their education was completed and projected salary. How do they expect a student who owes $100,000 in student to pay back money if upon graduation they are unemployed, or upon graduation they are making $30,000 or less minus taxes, cost of living, family size or responsibilities to the family etc. I think all these factors needs to be taken into consideration if government being realistic.

    Reply
    • Nico HL Beckles
      Nico HL Beckles December 11, 2017 at 10:12 am

      So if the student took the loan out from the bank would they be required to ease them if they couldn’t get employed?

      Reply
    • Anton Brown
      Anton Brown December 11, 2017 at 10:22 am

      You know the bank not going to ease a loan. Instead they are going to add late fees and interest pushing an unemployed student further in debt for a longer period of time. The issue / problem lies solely in students being able to find decent paying jobs. Government needs to create more jobs for these kids… how many lawyers alone in Barbados? How many practicing in their field? How many employed? Or better yet why don’t they do a case study on how many students graduate from UWI each year, how many are employed right after graduation, how many are employed in their field of study? Average salary for the graduate, number of years it takes to pay back the loan? Average time a takes for a student to find a decent paying job upon graduation? Then they will see how unrealistic they are.

      Reply
  8. Denton Crichlow
    Denton Crichlow December 11, 2017 at 10:45 am

    Did all of your political affiliates repay Thiers?Especially some who are ministers?

    Reply
    • hcalndre December 11, 2017 at 7:32 pm

      Denton; That`s the real good question.

      Reply
  9. Kym Reigns
    Kym Reigns December 11, 2017 at 12:31 pm

    All the time so?I hope you check and make sure your politicos pay back them one too. Further more make the speaker of the house pay back what he owe too!

    Reply
  10. Donild Trimp December 11, 2017 at 1:19 pm

    I will be brief on this issue.

    The entitlement mentality in Barbados must be eradicated.

    You obtained a student loan, you are required to repay that loan.

    There should be consequences if you fail to repay, if you are late in meeting your arranged payments and if you run off and hide in Canada, the UK and the USA.

    All those loans had guarantors. The Government should stop pussyfooting around this very easily solvable matter and start seizing the property of those guarantors.

    Enough of the freeness. Barbados will never progress if this nonsense is allowed to continue unabated.

    Reply
  11. Sam Clarke December 11, 2017 at 1:48 pm

    Go after these scumbags. Get judgments against them and place liens on property, bank accounts, salaries and wages.
    Any assets that you can find locally or internationally.
    These people have taken this fund for granted, and when you look at those who have these outstanding loans, they are usually people in high places and or people who can afford to pay them back.
    In addition, the government can offer them to come and work in in certain areas, for a period of years, to either lessen their balance, and or give them a waiver after full filling a certain amount of service.

    Reply
  12. Veroniva Boyce
    Veroniva Boyce December 11, 2017 at 2:06 pm

    Rhonda let’s start with you and your Layabout colleagues.

    Reply
  13. Helicopter(8P) December 11, 2017 at 5:03 pm

    That would be good news even in the Southern belt of the U.S.A. As the old saying goes “Man yuh can’t bearly like umm; yuh would have to sey “Dat is winfall!!

    Reply
  14. Alex Alleyne December 11, 2017 at 6:54 pm

    In the USA the student loans were now collected by a “private Company”. this mean you PAY. or………

    Reply
  15. hcalndre December 11, 2017 at 7:40 pm

    I will bet the they are some of the same ministers and his coterie who have not repaid their`s.

    Reply

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