GRADUATES who do no return to work in the island will not escape repaying their student loan if such a scheme is introduced. Concerns were raised at the island people’s meeting that there might be a loophole in the proposals.
‘In the case of non-returning students, there will be a set of agreed protocols under which Cherry Godfrey will operate,’ said its finance director David Barrow.
Deputy Education minister Wendy Morgan said that one of the main reasons why the department had provisionally accepted the company’s tender to administer any loans scheme was that it had the assurance the company would use follow-up procedures as it would in other financial matters.
‘Repayment of a loan by former students living and working in Guernsey will be straightforward and managed on a one-to-one basis,’ said Mr Barrow.
‘Contact will be maintained with former students who will have full access to their account.’
Mr Barrow said that repayment of the loan could be made in one of many different ways, including direct debit and online payment systems.
‘In the event of a former student failing to maintain contact, industry standard methods of re-establishing dialogue will be instigated,’ he said.
He added that Cherry Godfrey had many years’ experience in the management of the accounts of former residents who have moved away from the island, the results of which demonstrated that the greater majority of people will repay given the opportunity to do so.
Deputy Morgan said that it was felt no States department had the sort of expertise to facilitate loan repayments themselves.
‘We want to make sure that the vast majority of the money comes back,’ she said.
Article posted on 27th October, 2007 - 12.00am
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