Loans Jamaica » Commentary http://www.loansjamaica.com Jamaican Credit & Loan Information Tue, 17 Jan 2012 16:05:18 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Student Loan Repayment Difficulties http://www.loansjamaica.com/commentary/student-loan-repayment-difficulties/ http://www.loansjamaica.com/commentary/student-loan-repayment-difficulties/#comments Mon, 25 May 2009 19:03:32 +0000 admin http://www.loansjamaica.com/?p=42 There is a letter to the editor in today’s Gleaner newspaper, written by Dianne Barton, of a North Carolina address. In the letter, she speaks about the student loan that she got while attending the University of the West Indies, and the difficulty that she had to repay the loan.

Highlights of her letter:

  • After graduating, she had difficulty finding a job in her field of study
  • When she finally got a job, her salary was unable to cover all her monthly expenses
  • After she managed to repay the loan, she migrated to the U.S. and sought a ‘statement of no objection’ from the Jamaican Government but had difficulty with the Students’ Loan Bureau (SLB) simply forwarding a letter to the ministry stating that she had repaid her loan in full
  • Eventually found out that she had overpaid the loan by J$16,500 and has tried to get a refund from the SLB but can’t get a straight answer from them in this regard

Click here to see her letter.

]]> http://www.loansjamaica.com/commentary/student-loan-repayment-difficulties/feed/ 0 The Need To Be More Informed About Student Loans http://www.loansjamaica.com/commentary/the-need-to-be-more-informed-about-student-loans/ http://www.loansjamaica.com/commentary/the-need-to-be-more-informed-about-student-loans/#comments Mon, 25 May 2009 18:51:50 +0000 admin http://www.loansjamaica.com/?p=39 Today’s “Letter of the Day” in the Jamaica Gleaner newspaper, is by E. COLEMAN from St. Mary, and references the need for students to realise what they are getting into before signing off on a loan agreement.

He / she makes a few good points in their letter:

  • That far too many students don’t have any idea of the amount of money they will have to repay the Student Loan Bureau (SLB) when they have completed their studies.
  • That the SLB is the only organisation that will lend money at 12% on the reducing balance, and give at least three and a half years to start repayment.
  • That students can start paying their loans before the SLB actually writes to them telling them to do so.
  • The need to make more informed decisions with regard to the need for a student loan.

Click here to see the letter.

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