7,500 graduates default, bleed their parents dry

[besotted]

Western educated bastards and bitches. No filial piety

Our society is doomed unless we import Confucian trained PRC youngsters


http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_571124.html

Singapore
Home > Breaking News > Singapore > Story
Aug 26, 2010
Grads default on CPF loans
By Leow Si Wan


MORE than 7,500 students have defaulted on repaying monies - taken from either their own Central Provident Fund (CPF) accounts or their parents' - to pay for their education.

Since it was made possible in 1989 for CPF members to use up to 40 per cent of their accumulated Ordinary Account savings for their own or their children's full-time local diploma and first-degree courses, 153,000 students have successfully applied to the Fund's Education scheme, as of 2006.

Of these, 5 per cent, or more than 7,500, have defaulted on the repayment of their loans and have failed to return money to CPF accounts for at least four consecutive months, said the CPF Board, in response to media queries on Wednesday.

Education Minister Ng Eng Hen had referred to this group during a community visit on Sunday when he explained why the ministry had no plans to extend the scheme to students who want to pursue an overseas education.

He said that if the Government allowed the CPF to be used for education in a foreign university, 'a lot of parents will use that money'. If children do not repay the money, parents will be left with little retirement savings.

 

[manokie]

The main problems are employment and low salaries

Solve these two issues and students can repay their loans

Blame is not totally on the grads.

 

[Leongsam]

Western educated bastards and bitches. No filial piety

Western educated??? I thought the scheme didn't cover ANY overseas courses.

 

[ahleebabasingaporethief]

THEY HAVE THE CHEEK TO HIGHLIGHT THIS ON THE FRONT PAGE?

FUCKING SCUMS DO NOT KNOW THAT SALARIES ARE DEPRESSED BY THE FT POLICY?

FUCKING SCUMS DO NOT KNOW THE COST OF LIVING IN SINGAPORE IS VERY WORLD CLASS HIGH?

HOW TO MAKE ENDS MEET, LET ALONE PAY OFF LOANS?

FUCK THE SCUMS. VOTE WISELY ALL YOU 7500 YOUNG MEN AND WOMEN!
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[tanwahtiu]

Western educated??? I thought the scheme didn't cover ANY overseas courses.

Only the elite PAP cricles will know the lobang. Poor peasants not involved.

 

[saratogas]

Are the parents chasing their children to return the $$$ or its the CPF board that wants their $$$?

 

[po2wq]

... He said that if the Government allowed the CPF to be used for education in a foreign university, 'a lot of parents will use that money'. If children do not repay the money, parents will be left with little retirement savings.

ya, man! ...

letting low stock peasants' offsprings drink salty water 2 enrich demselves wil deprive ah loon's jinx of mor chips 2 throw away @ overseas gambling dens ... :o

 

[Qantas]

Actually, I don't think it is a good idea for the children to repay the parents' CPF. this is because with the nonsense like CPF Life and what not, the parents' will never get to see their money anyway. It would be better if the children pay back their parents in cash so that our Mdm Ho don't get to punt our CPF moneys.