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5 Per Cent Of Graduates Defaulted On CPF Loans
Just as the usual daily routine of flipping the Today newspaper, i have stumbled upon this hot new on graduates defaulting on CPF Loans. Are you one of this 5% who defaulted or the 95% who paid up? For me, i am the the 95% who has promptly paid up ever since i started on my first job. My only suggestion to this scheme is that we should be using our CPF to repay back, instead of using cash, as this will help the fresh graduates to have more cash flow upon stepping into the working society. In this way, both parties, the aged and the young will benefit from it. And of course if this scheme is implemented, it should be made mandatory too. Under-mentioned article is extracted from Today dated 26th August 2010 After leaving university, a graduate owed $4,700 that he used from his mother's Central Provident Fund (CPF) account before he finally got in touch with the CPF Board to start monthly repayments of $200. He then had to defer payment, citing personal reasons, before he eventually repaid the loan in one lu
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