SLB reforms a step in the right direction

20140419-135102.jpg

While there is furore in the national sphere surrounding several aspects of Dr. Phillips’ debate, there is one particular aspect which I wish to zoom in on and issue commendations for as a student leader.

The reform of certain SLB loan access and repayment criteria;
1) Increasing the number of persons for which a financially capable individual can serve as guarantor from one to three.
2) Calculating interest on the reducing balance- which will serve to make debt repayment less demanding.
3) Increasing the moratorium period until certain professionals have earned the requisite license to practice.
The measures I strongly believe will serve to diminish delinquency (in the case of the last two) and by so doing, keep the SLB fund “vibrant” as a result of less delinquency.

Though these measures will be beneficial to several students and graduates, they will by no means fully address the problems which we are having in the education system and as such, I reiterate some of the points raised by Member of Parliament Dr. Dayton Campbell to help fix the problems where the tertiary funding aspect of the education system is concerned:

1) Government should serve guarantor to PATH beneficiaries who are desirous of accessing SLB loans. Many are from poor backgrounds and encounter serious difficulties accessing guarantors and as such might never be able to access loans despite the need.

2) Establishment of a National Education Trust (NET) which contributing parents will be able to draw down on when their child/children get to the university level (similar mechanism to NHT).

3) Move away from barring students from exams (tertiary level) and sending them back into their communities unqualified. Instead, it is recommended that a hold be placed on degrees/degree continuation (with the option to pick up at the point of the hold rather than starting over).

Additionally, I believe that the GOJ, the university administrators and the respective student bodies ought to sit down and examine more cost effective measures of administrating the business of the university(e.g. alternative energy) with the hope of hammering out measures which can have a positive impact on the tuition fees.
The measures are by no means exhaustive but a move to implement more of these points will continue the step in the right direction for education.

20140419-135706.jpg

20140419-135717.jpg

Advertisements

One thought on “SLB reforms a step in the right direction

Add yours

  1. A very good read. Very insightful. I do believe that the SLB reform is a step in the right direction. I must commend you for pointing out that the reform however, is by no means entirely sufficient to ameliorate the problem of dismal funding for education (especially tertiary) in Jamaica. You have suggested three excellent points that could help the current situation but is of my belief that that the government should aim towards playing a more intricate role re the funding of tertiary education. However, the govt. is strapped for cash hence we have to think about growing the economy and there are several pieces to this puzzle but the most important one is strong, efficient, trustworthy, innovative leadership………………………………………. Take for instance, the Singaporean model of leadership (not government type) that lead to the boost in their economy….. Take a trip down memory lane……. I don’t want to be going off on a tangent… but anyway, you have written an excellent blog

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: