Since the enactment of RPPL 7-13 on Oct. 30, 2005, PNSB has struggled to collect payments.
RPPL 7-13 mandates a student who is awarded a PNSB scholarship to return to Palau upon completion of his or her education and work here for a minimum of three years. Students who opt not to return to Palau must pay the scholarship received, including interests, within five years of graduating.According to PNSB, students who were awarded scholarships prior to Oct. 30, 2005 are not covered by the law. However, students who borrowed money from PNSB are still obligated to make payments on time.A 5 percent interest rate is charged on all student loans and scholarships that were awarded after the enactment of RPPL 7-13.Payments collected from students help sustain PNSB programs. Haro will advise and assist the board in the collection of payments from recipients and their co-signers when the recipients default on their obligations.According to PNSB, “Anyone who has received funding from the scholarship board and who has not made timely repayments is strongly encouraged to contact the scholarship office to update his or her account and to establish a payment plan.”Any account that is not brought up to date will be referred to attorney Haro.Any person who does not settle his or her account with PNSB will be liable for additional fees accrued.If anyone is unsure of his or her account with PNSB, he or she may contact its office at 680-488-3608 or e-mail [email protected].
