We would like to inform the President and the rest of the government that the biggest challenges which student loan beneficiaries are facing were not addressed in the recent restructure, these challenges include:
- BENEFICIARIES ARE STRUGGLING WITH HIGH AND DRACONIAN MONTHLY DEDUCTIONS WHICH IN SOME INSTANCES GO UP TO AS HIGH AS 60% OF AN INDIVIDUALS BASIC SALARY, THIS IS NOT IN LINE WITH THE CONDITIONS SET IN THE STUDENT AGREEMENT FORM. THE PRESIDENT PROMISED THAT HE WAS GOING TO REDUCE THIS TO 2.5% OF AN INDIVIDUAL’S NET SALARY. IF HE CAN’T DO THAT, THEN AT LEAST IT SHOULD BE REDUCED TO A REASONABLE AMOUNT BETWEEN 5% AND 10% like other nations across the globe.
- POOR BENEFICIARIES WHO ARE NOT IN EMPLOYMENT CONTINUE TO ACCRUE PENALTIES. THIS SHOULD BE STOPPED.
- THE RECENT PRONOUNCEMENT BY THE HELSB TO LIST POOR AND UNEMPLOYED GRADUATES ON THE TRANSUNION’S CREDIT REFERENCE BUREAU, AN ACTION WHICH WILL RESULT IN IMPACT ON INDIVIDUALS CREDIT SCORES, LOSS OF BORROWING PRIVILEGES AND DIFFICULTY IN OBTAINING FUTURE CREDIT SHOULD BE RESCINDED. THIS IS A MOVE, IF TAKEN. WHICH WE WILL CONTINUE PROTESTING AGAINST AND CHALLENGING IN COURT IF NECESSARY.
- HIGH INTEREST RATE OF WHICH THE 5% REDUCTION IS NOT ENOUGH. THE PRESIDENT PROMISED TO SCRAP OFF THE INTEREST RATE WHEN HE WAS IN OPPOSITION, IF HE CAN’T DO THAT, THEN HE SHOULD AT LEAST REDUCE IT TO A REASONABLE AMOUNT AROUND 5%.
We therefore would like to inform the ministry of education, the government and fellow citizens that since the police could not allow us to air our grievances through a normal protest we are still going ahead with the bush protest unless the government arranges a dialogue meeting between our committee and the president.
DAVID CHISHIMBA
HELSB-RCC COORDINATOR
0966531998/0779089151