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MONDAY, DECEMBER 9, 1974.
THE ESSENCE OF THE GOVERNMENT GRANT IS THAT IT PROVIDES ADEQUATE FUNDS TO NEEDY STUDENTS TO COVER TUITION FEES AND CERTAIN OTHER UNAVOIDABLE EXPENSES SUCH AS BOOKS, STATIONERY AND EQUIPMENT.
THE LOANS, ON THE OTHER HAND, ARE GENERALLY INTENDED TO ASSIST STUDENTS IN MEETING THEIR LIVING EXPENSES. SINCE 1969, A TOTAL OF $43.57 MILLION IN LOANS WAS ALLOCATED TO STUDENTS.
THE LOANS HAVE TO BE REPAID BY 20 QUARTERLY INSTALMENTS WITHIN FIVE YEARS AFTER THE STUDENT HAS LEFT THE UNIVERSITY OR HAS FINISHED AN APPROVED COURSE OF FURTHER EDUCATION.
MR. BAILEY SAID THAT UP TO NOVEMBER THIS YEAR RECOVERY ACTION HAD BEEN STARTED AGAINST 3,392 STUDENTS FOR THE REPAYMENT OF LOANS.
HE POINTED OUT THAT DEFERMENTS OR SUSPENSIONS OF REPAYMENT WERE ALLOWED WHERE STUDENTS TOOK UP APPROVED COURSES OF FURTHER EDUCATION AFTER LEAVING UNIVERSITY OR WHERE PERSONAL CIRCUMSTANCES SUCH AS UNEMPLOYMENT, MADE RECOVERY IMPRACTICAL FOR THE TIME BEING,
+THERE HAVE SO FAR BEEN 152 DEFERMENTS AND SUSPENSIONS AND NO LOAN HAS YET BEEN WRITTEN-OFF AS IRRECOVERABLE, HE SAID.
HOWEVER, MR. BAILEY WARNED THAT FALSIFICATION OF A STATUTORY DECLARATION OF FAMILY RESOURCES WAS A SERIOUS OFFENCE UNDER THE PERJURY ORDINANCE AND HE URGED STUDENT APPLICANTS AND THEIR PARENTS TO BEAR THIS IN MIND.
+SINCE 1972, 33 CASES HAVE BEEN TAKEN TO COURT AND IN EVERY CASE THE PERSON WHO SIGNED THE STATUTORY DECLARATION WAS FINED AND THE MONEY GRANTED IN ASSISTANCE WAS RECOVERED, HE SAID.
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