Ungrateful education loan defaulters

V.K. Chin, The Star, Asia News Network, Selangor, Malaysia

It is really a puzzle why so many of those who have borrowed study loans should refuse to repay them after they have graduated and working.

What is even more unusual is that most of the errant borrowers are doing well in their careers and should have no difficulty in settling their loans and yet they refuse to do so.

There must be something wrong with either their upbringing or the education system to produce such ungrateful people. Otherwise, how do we explain such a phenomenon?

It is only fair that we repay borrowings, especially a financial loan to help in our business, education or to satisfy our cravings for certain goods.

A good education is supposed to help us think clearly and be more aware of our responsibilities to our financial commitments and ultimately to society, families and friends. Otherwise, the higher education would have been a waste.

Those who are better educated should behave in a more responsible manner as they are supposed to be the leaders of tomorrow and they must lead by example.

Though they have signed the agreement to pay the installments, some of them have been running away from this duty for one reason or another. This is unacceptable since the repayments will help other needy students.

The money is then recycled so that other school leavers will benefit from such schemes. If more borrowers should break their promise, there will be less money to help educate the coming generation.

The borrowers have used the funds to achieve their academic dreams and now it is time for them to ensure that others will be able to do the same. But their selfish attitude may scuttle the future of such worthy and noble projects.

The defaulters seem to take advantage only on the government and private loan foundations set up for the sole purpose of lending money to those in need of such assistance.

Those who took study loans from the government, for example, believe that since it is public funds, they tend to treat the scheme as an outright grant or scholarship and so there is no necessity to pay back.

They also mistakenly believe that the government would not dare to be too tough in trying to get its money back as the political fallout may prove to be costly.

However, some of them have not anticipated the government's resolve to recover its money by using all available channels at its disposal such as publishing their names in the newspapers and taking them to court if they should remain stubborn.

Such actions may by unpleasant and extreme but the government is determined to recover all the money taken out by such irresponsible and shameless people.

They have not only brought shame on themselves but to their family members, relatives and friends as well. It would indeed be an irony if some of them should be presently holding high and responsible positions in the commercial world.

What sort of message would they be sending to their colleagues or staff? That it is all right to ignore the rules, legal or societal, so long as they can get away with it?