THIRTY EIGHT per cent of all Barbadians who borrow money from the Student Revolving Loan Fund (SRLF) do not pay it back.
This was confirmed today by Minister of Finance and Economic Affairs Chris Sinckler in an interview with the Sunday Sun in which he complained the situation was negatively impacting the Government’s ability to obtain low-interest financing to recapitalise the fund.
“Right now we have a situation where 38 per cent of the persons who borrow money are not paying it back,” Sinckler said.
“The fund continues to function . . . at a reasonable level, but the challenge is that not enough of the resources are coming back in and as you know it is a revolving fund . . . money has to come in for it to go back out because there is no consistent application of new funds.” (RRM)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
