The future of Jamaica’s tertiary education is in doubt due to of a lack of funding. What has happened to our tertiary education system and the management of it? If we cannot afford to find funding, where will that leave the country and our students?
Lower interest rates are being suggested by some as a way to improve the Students’ Loan Bureau. One of the problems facing the Students’ Loan Bureau is the Fact that they are having a difficult time collecting repayments from past tertiary students.
There was a revelation by Monica Brown, executive director of the Students' Loan Bureau (SLB), at a recent Parliamentary committee meeting; in which she revealed that the SLB had sourced only $1.7 billion out of the $4.2 billion needed to provide loans for this year.
This leaves a shortfall of $2.5 billion, which is a large sum for the Government to tackle due to the fact that the Government is also facing tough times.
The Opposition leader called for a national education saving programme to be created in which parents can set up an account where their contribution would be matched by Government's contribution.
Giving that this suggested programme would be voluntary; will it have the effect we hope? Given the high cost of living; the question remains how many parents will be able to have the disposable income to put into a savings account?