Not all students unwilling to repay loan

Glenford Smith, Contributor

How does one find his or her name and photograph in the newspaper under the caption 'The Faces of Delinquency'? And more importantly, what can a person do about this ignominy?

These were two of the questions which came to mind as I read the full-page ad by the Students' Loan Bureau (SLB) in The Sunday Gleaner of December 11, 2011. It listed 42 persons who the SLB described as "chronic delinquent borrowers". The appeal at the bottom of the page screamed: Repay your student loan now! This was the only way to "avoid impending legal action", it warned ominously.

So, how did these persons get in to this situation? Certainly, not all of them are dishonest deadbeats, who took the loans without any intention of repaying. I'm willing to bet that, notwithstanding the SLB's characterisation, at least some of these persons simply cannot do better right now. How do I know that?

I know it because I was in the same situation, 20 years ago, to be precise. No, my photograph wasn't published in the paper, thankfully. Nonetheless, I received several letters from the SLB threatening legal action against me for non-repayment of my loan. I was duly scared, of course. Did I mention frustrated, anxious and embarrassed, too?

There was just one problem. I couldn't find a job after graduating from college. The $10,000 I owed the SLB seemed like $10 million. I couldn't find money for food, rent or even bus fare at that time, to be honest. So, naturally, repaying my student loan, which I really wanted to do, was going to be a challenge.

It would be seven tough months after graduating that I eventually got a job at the Jamaica Public Service Company Limited. Among my first priorities was arranging for my monthly salary deductions to repay my student loan. And no, it wasn't because of the threats to take me to court, it was because I always wanted to repay, but couldn't because of my dire financial circumstances.

happy recipient

A few short years later, I was the happy recipient of a congratulatory letter from the SLB, saying I had repaid my student loan in full, and wishing me well.

So what's the main point of this column? It is firstly to warn readers against instinctively misjudging all delinquent student loan borrowers as thieving skunks. The fact is that many desire to repay their loans but find it impossible due to their inability to get a job.

Undoubtedly, there are those who are working and have neglected their obligation; for those I have little sympathy. Student loans have made it possible for many Jamaicans to get a tertiary education. We owe it to others to repay our loans so they, too, can get a college degree and a chance at a decent career.

To those who genuinely cannot repay due to prolonged unemployment, it is best to visit the SLB and explain your situation. Agree on a likely repayment schedule. Don't let fear, depression and the embarrassment of having your picture in the newspaper as a delinquent borrower destroy your self-esteem. This, too, shall pass.