It is very sad that people will take out loans totaling over $156 Million, then default at the hefty rate of 75%. Whether they are employed in the Bahamas, or abroad, has nothing to do with the repayment of the loan....The payments are supposed to be made, regardless of where in the world they live and work....and for almost 15 years of owing these loans, I will be willing to bet that the maturity date on most of those loans have already passed. From 2001 to now, a span of 16 years is a very long time, and many of those loans should have now been fully repaid. Some persons may not be working/ employed now, but what about the prior years when they may have worked, but just were "dishonest" and did not repay. There should be no excuse, and they should be dealt with strictly under the law.
BahamaDude says...
It is very sad that people will take out loans totaling over $156 Million, then default at the hefty rate of 75%. Whether they are employed in the Bahamas, or abroad, has nothing to do with the repayment of the loan....The payments are supposed to be made, regardless of where in the world they live and work....and for almost 15 years of owing these loans, I will be willing to bet that the maturity date on most of those loans have already passed. From 2001 to now, a span of 16 years is a very long time, and many of those loans should have now been fully repaid. Some persons may not be working/ employed now, but what about the prior years when they may have worked, but just were "dishonest" and did not repay. There should be no excuse, and they should be dealt with strictly under the law.
On 300 facing court over student loan debts
Posted 30 August 2017, 11:05 a.m. Suggest removal