... Parliamentary process open and transparent

LEADER OF Government Business Senator Mark Golding also chided Ruel Reid for his remark, noting that a joint select committee is “a forum which is appropriate for discussing a weighty matter that affects the future of our country in such a fundamental way as how tertiary education is to be financed”. Golding argued that this parliamentary process would allow stakeholders to make presentations, which are covered by the media. “There is proper recording of everything that is said; there is a clerk that ensures that the reports are prepared in a professional way and it is open and transparent.”

Earlier during debate on the motion, Senator Sophia Frazer-Binns called for the Government to overhaul the Students’ Loan Bureau (SLB).

REMOVE GUARANTOR REQUIREMENT

She argued that the Government should consider removing the requirement for a guarantor to make it easier for borrowers to access funding from the institution.

According to Frazer-Binns, the bureau shouldn’t require borrowers to provide guarantors because loans are unsecured.

She said that this is not done by private financial institutions that offer similar loan products. However, Government Senator Don Wehby suggested that the SLB should allow companies to stand as guarantors for students. He also suggested that the interest SLB beneficiaries pay on their loans could go as a credit against their income tax returns. At the same time, Wehby is also encouraging private-sector interests to come on board by offering paid internships, apprenticeships and scholarships to students as part of their corporate social responsibility.