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.... £100bn is the outstanding value of all tuition fee and maintenance debt since 1998 – it is not the answer to the question: what would be the impact on public debt of writing off fee loans accumulated under the £9,000 tuition fee regime?” the IFS said in a research note published on Friday. The current level of £9,000-era tuition fee loans held by the government through the Student Loans Company is £34bn. ... [Read full article on Guardian ]
Friday 15th of September 2017 04:40:20 PM
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Latest Finance News related to Student Loans Company

Writing off student debt cheaper than claimed, says IFS image
Source : Guardian [Read Article] Friday 15th of September 2017 04:40:20 PM
.... £100bn is the outstanding value of all tuition fee and maintenance debt since 1998 – it is not the answer to the question: what would be the impact on public debt of writing off fee loans accumulated under the £9,000 tuition fee regime?” the IFS said in a research note published on Friday. The current level of £9,000-era tuition fee loans held by the government through the Student Loans Company is £34bn. ...
Getting to grips with a £32,220 student debt – and how you can lighten the load image
.... But as well as the increased cost of rent, travel and council tax, in the background is her mountain of debt – student loans of £40,000. After borrowing all she could from the Student Loans Company (SLC) for the £9,000-a-year tuition fees for her English literature and politics degree at the University of Reading, she also took out money for maintenance. ...
How to reform student finance? Let’s start with interest rates image
Source : Guardian [Read Article] Saturday 19th of August 2017 06:00:06 AM
....8% for repayment over 30 years. Yet, when it lends the money out through the Student Loans Company, to be repaid in up to 25 years, it applies an interest rate of up to 6. ...
Breakthrough in leasehold scandal, plus cash grabs by Student Loans Company image
....Medieval homes for sale. Complaints continue to grow about the Student Loans Company from those who have paid off their debt. ...
Student loans: graduates still face cash grabs of £300 a month image
Source : Guardian [Read Article] Saturday 5th of August 2017 06:00:04 AM
. Graduates who have paid off their student loans say they are continuing to have as much as £300 a month taken from their pay packets by the Student Loans Company, with some talking of two-year battles to obtain refunds. ...
Student debt: What is going on with the Student Loans Company? image
Source : Guardian [Read Article] Saturday 5th of August 2017 06:00:04 AM
. Graduates who have paid off their loans are continuing to have money taken off out of their pay packets by the Student Loans Company. ...
Student Loans Company comes under graduate fire, plus house prices stabilise image
....House prices stabilise as number of homes on the market falls. Graduate anger mounts over ‘nightmare’ Student Loans Company. ...
Student Loans Company criticised over 'penalty interest' on funds image
Source : Guardian [Read Article] Saturday 29th of July 2017 07:40:24 AM
. The Student Loans Company has been criticised for adding more than £8m to student debt through “penalty interest” on tens of thousands of loans in the last financial year. ...
Graduate anger mounts over ‘nightmare’ Student Loans Company image
Source : Guardian [Read Article] Saturday 29th of July 2017 06:00:43 AM
. When Gary Ashworth moved to Botswana in 2013 to try to start a design business, he immediately told the Student Loans Company that he would be out of the UK. ...
Leaseholds on new-builds to be banned, plus Student Loans Co penalises borrowers image
....Life on the (cliff) edge. Graduates who fall foul of the Student Loans Company face paying back thousands of pounds more after it emerged the firm has the right to penalise students with extra interest for simply taking a three-month trip. ...
Student Loans Company quadrupled my interest rate – just for taking a short trip image
. Graduates who fall foul of the Student Loans Company face paying back thousands of pounds more after it emerged the firm has the right to penalise students with extra interest for simply taking a three-month trip. ...
UK students should not try to pay off loans early, research suggests image
Source : Guardian [Read Article] Monday 17th of July 2017 02:40:16 PM
.... If the same graduate cuts the total £55,000 balance to £45,000 with an overpayment of £10,000, they will still have to repay the same amount of student loan over 30 years, making the overpayment entirely pointless. Student loan debt has been soaring and its total value rose above £100bn for the first time earlier this year, according to figures released by the Student Loans Company. ...
Grace is 25. Her student debt: £69,000 image
Source : Guardian [Read Article] Tuesday 11th of July 2017 06:14:02 AM
Poorest students will finish university with £57,000 debt, says IFS image
Source : Guardian [Read Article] Tuesday 4th of July 2017 11:01:12 PM
....5bn at the end of March, up from £86. 2bn a year earlier, according figures released by the Student Loans Company. ...
UK student loan debt soars to more than £100bn image
Source : Guardian [Read Article] Thursday 15th of June 2017 11:12:28 AM
Universities minister announces sale of student loan book image
Source : Guardian [Read Article] Monday 6th of February 2017 03:28:59 PM
....Erudio was forced to apologise after complaints about a series of administrative errors that resulted in graduates receiving letters telling them they must pay, even though their earnings had not reached the repayment level. In the latest sell-off, loans and collections will continue to be administered by the Student Loans Company. ...
Students warned of new 'phishing' scam image
Source : BBC [Read Article] Monday 19th of September 2016 11:58:55 PM
.... . The Student Loans Company said students were particularly vulnerable to "phishing" attempts around the main payment dates, in September, January and April. ...
It’s borrower beware when it comes to student loans image
Source : Guardian [Read Article] Saturday 16th of July 2016 05:59:03 AM
. A woman who was told in 2010 that she had paid off her student loan in full has become the latest person to fall foul of the “shambolic” Student Loans Company. ...
I've paid off my debt, but Student Loans Company keeps on taking my money image
....This year I finally managed to clear my student loan that had been hanging over my head for 12 years. I rang the Student Loans Company (SLC) just before the end of the loan repayment to confirm that the ­balance was clear and to ask it to stop the monthly deductions. ...
Graduates who keep on paying after they’ve cleared their student debts image
....Two years after she paid off her student loan, Melanie Rodrigues thought she had finally seen the back of her university debts. Instead, the BBC producer has found herself locked in an “infuriating” battle with the Student Loans Company (SLC) after repayments continue to be docked from her salary. ...
Government under pressure over student loan change image
Source : Guardian [Read Article] Saturday 4th of June 2016 06:01:02 AM
.... Students are also angry after the government backtracked on promises made in 2010 that the £21,000 earnings threshold – at which point students are required to pay back loans – would rise annually with average earnings. Student loans were pushed centre stage when Simon Crowther posted on Facebook a letter to his local MP, Vernon Coaker, alongside the statement he received from the Student Loans Company showing the big rise in his debt. ...
Have student loan interest rates really shot up? image
Source : Guardian [Read Article] Friday 27th of May 2016 04:22:18 PM
....A Facebook post by a recent graduate suggesting that interest rates on student loans have been hiked went viral this week – so have rates really gone up?. The post, by a graduate called Simon Crowther who finished a degree in civil engineering last year, suggested that he and other students had seen their interest rates hiked after the sale of the Student Loans Company to a private firm. ...
Student loans firm Erudio leaves graduates fuming over latest error image
Source : Guardian [Read Article] Friday 8th of April 2016 09:51:12 AM
.... The company denied the event was a deliberate tactic to force graduates to repay loans and said rectifying the situation was top of its agenda. Erudio bought a book of old-style student loans previously administered by the Student Loans Company from the government in 2013. ...
Under cover of storm clouds, Osborne plans stealth tax subterfuge image
Source : Guardian [Read Article] Sunday 28th of February 2016 01:02:34 PM
.... The costs are for another day. This is similar to the multibillion-pound transformation of university funding, which is reliant on upfront funding from a debt vehicle – the Student Loans Company – and the repayment over many years by graduates. ...
'Student Loans Company started taking money without warning seven years after I repaid my loan' image
. Major blunders by the Student Loans Company are continuing to disadvantage graduates, leaving them thousands of pounds out of pocket. ...
Calculator: paying down your student loan early could save over £20,000 image
Source : Telegraph [Read Article] Monday 16th of November 2015 09:43:37 AM
.... . A spokesperson from the Student Loans Company said: “Customers wishing to make voluntary repayments can do so in a number of ways. ...
Women with degrees earn three times as much as female non-graduates image
Source : Telegraph [Read Article] Thursday 24th of September 2015 11:40:03 AM
.... . Men can double their pay if they went to university, according to their analysis of salary data held by the Student Loans Company and HM Revenue & Customs. ...
Five-minute guide to coping with debt at your university image
Source : Daily Express [Read Article] Sunday 20th of September 2015 12:01:00 AM
....University or college tuition fees are the main source of debt, costing a maximum of £9,000 a year. You can cover the cost with a low-cost loan from the Student Loans Company, which pays the money directly to your university or college. ...
Government’s sprawling financial services empire is out of control, says watchdog image
. The Government controls 54 financial institutions from the Royal Bank of Scotland and the Student Loans Company to the British Business Bank, but has no unified system in place to manage its enormous investments, the National Audit Office (NAO) has revealed in a highly critical report. ...
Go Dutch and save yourself £50,000 image
Source : Guardian [Read Article] Saturday 5th of September 2015 06:00:01 AM
....”. However, students from England and Wales cannot obtain loans from the Student Loans Company and use them to study abroad, although Scottish students can take their loans with them. ...
Money talks: the £1m 'affordable' shared ownership flat, and rent rises quicken image
....HSBC took £4,000 out of my life savings. Student Loans Company is hounding me for debt I paid off in 2009. ...
Just got your A-levels? This top university saves £124 a week in living costs image
.... . • Student Loans Company overcharges 78,000 graduates . ...
Almost 80,000 overpaid student loans by £850 last year: Here's how to get money back  image
. Almost 80,000 borrowers were left out of pocket by an average of £850 last year, showed a Freedom of Information (FoI) request made to the Student Loans Company (SLC) by accountancy firm Baker Tilly. ...
Student Loans Company overcharges 78,000 graduates image
Source : Telegraph [Read Article] Friday 31st of July 2015 10:02:53 AM
. More than 78,000 graduates are being overcharged by the Student Loans Company every year, leaving the average borrower £580 out of pocket. ...
'I paid off my student loan but the deductions won’t stop' image
Source : Telegraph [Read Article] Saturday 13th of June 2015 07:17:15 AM
. When Lauren Smith paid off her entire student loan a year ago, she never expected to find herself locked in a frustrating battle with the Student Loans Company, which has continued to dock her wages ever since to service a debt that no longer exists. ...
Thousands of students are having wages docked to repay tuition fees – before they've graduated  image
.... The Government widely advertises the fact that graduates will only begin to repay loans taken out once they are earning £21,000 a year. But because the limit is calculated on a weekly or monthly basis through pay as you earn (PAYE) payroll, students who take home at least £333 in any given week, or £1,493 or more in any given month, will have their payslip docked to make a repayment to the Student Loans Company (SLC). ...
Overcharged for your student loan? Tax delays mean £40m is wrongly deducted each year image
.... . The findings were disclosed in a Freedom of Information request published by the Student Loans Company, the Government organisation that provides finance to students. ...
Student loans are tough to clear – even when you've got the cash  image
Source : Telegraph [Read Article] Friday 6th of February 2015 10:55:49 AM
.... That is when the problems began. Charlie said: “The process is a nightmare – it’s almost as if the Student Loans Company [SLC] is deliberately trying to make it difficult for parents to give them money. ...
How to apply for student finance image
Source : Telegraph [Read Article] Tuesday 27th of January 2015 01:30:42 PM
.... . How do I apply? The Student Loans Company processes all applications for students in England and Wales and you can apply online here. ...
Student loans: the real cost could be £40,000 more than official estimates image
.... . But type the same details into the student loan repayment calculator on DirectGov, a website run by the Student Loans Company, and the same student will be told they will face a repayment of £93,792 over 30 years. ...
How to shave thousands off your student loan image
Source : Telegraph [Read Article] Tuesday 18th of November 2014 05:20:01 PM
.... £9,000-a-year fees: how much will graduates repay? . Source: Student Loans Company. ...
How to avoid falling victim to cybercrime image
Source : Daily Express [Read Article] Wednesday 22nd of October 2014 12:00:00 AM
....Students are being tricked into diverted their loan repayments to bank accounts run by criminals. The Student Loans Company’s security team has prevented almost £3 million from going to fraudsters by closing down phishing sites, says head of counter fraud services Heather Laing. ...
....Scottish Power suspended the use of its alternative name Sterling Collections earlier this year and has now decided to stop using it altogether. SSE is the only of the Big Six suppliers not to resort to the tactic, which has also been used by some High Street banks, Britain’s most-profitable payday lender Wonga and the Student Loans Company. ...
Ofgem to review energy firms' debt letters image
Source : BBC [Read Article] Monday 22nd of September 2014 10:36:53 AM
.... . Similar branding to collect unpaid debts have been used by banks and the Student Loans Company. ...
Banks’ fake scare mail to be scrapped after Treasury demands answers image
Source : Daily Express [Read Article] Sunday 24th of August 2014 12:01:00 AM
....The banks are not alone in sending out fake legal letters. The Financial Conduct Authority (FCA) has asked the public to send it correspondance from debt recovery firms and solicitors that claim to act on behalf of banks, payday lenders, utilities and the Student Loans Company, to help it get to the bottom of the matter. ...
Managing finances is key to sailing through university life image
Source : Daily Express [Read Article] Sunday 17th of August 2014 02:45:00 PM
....The key is to ensure you apply for all the funding you are entitled to; for more information visit the student finance pages on Gov. uk and also the Student Loans Company at Slc. ...
Powerless as my daughter's student loan is caught in the middle of a dispute image
....My 20-year-old daughter is struggling to recover a £1,265 student loan which was paid into the wrong Santander account. The Student Loans Company (SLC) told her that it would put a trace on the funds, but eight months on she has received nothing. ...
Student loan system reaches 'tipping point', warn MPs image
Source : BBC [Read Article] Tuesday 22nd of July 2014 12:48:39 PM
....But MPs are warning that there is insufficient control on how much is likely to be repaid - with the amount likely to be lost much higher than had been projected. Students do not have to pay back until they are earning £21,000 and debts are written off after 30 years - and MPs questioned the efficiency of the Student Loans Company's collection process. ...
Student loans under threat, say MPs image
Source : Telegraph [Read Article] Tuesday 22nd of July 2014 07:24:56 AM
.... . At the same time, the collection targets set for the Student Loans Company by the department are not fit for purpose, it adds. ...
Student loan system is almost financially unworkable, say MPs image
Source : Guardian [Read Article] Monday 21st of July 2014 11:01:00 PM
.... The department has since updated the model for student loan repayments in line with their recommendations and the new model has been reviewed both internally and by the NAO as part of the process for producing the BIS accounts. "The government is committed to ensuring that the taxpayer is receiving value for money and that is why we are continuing to work with the Student Loans Company on improving best practice and have already dramatically tightened the regime for recouping repayments from graduates both domestically and overseas. ...
Lloyds 'misleading' letter to borrowers published by MPs image
Source : BBC [Read Article] Thursday 17th of July 2014 12:02:58 PM
....It also confirms that SCM is authorised by the Solicitors' Regulation Authority. The details follow previous revelations about other banks, energy firms and the Student Loans Company using similar techniques. ...
Student loan boss 'offered to resign' image
Source : BBC [Read Article] Tuesday 8th of July 2014 11:39:29 AM
. The chairman of the Student Loans Company offered his resignation after it emerged that graduates in arrears were being sent "misleading" letters chasing repayments. ...
Calls for investigation into 'misleading' bank debt letters image
Source : Telegraph [Read Article] Friday 4th of July 2014 01:23:07 PM
.... The City of London Police are currently looking again at the incident involving Wonga to see if further action is needed. It also recently emerged that the Student Loans Company has, in the past, sent out letters which were feared to be potentially "misleading". ...
Has your bank sent you a letter from a 'pseudo' solicitors firm? image
Source : Guardian [Read Article] Friday 4th of July 2014 10:56:08 AM
. A number of banks and the Student Loans Company have come under fire after it emerged they issue legal demands from what appear to be debt collection agencies. ...
Revealed: the banks using 'pseudo' solicitor firms to make debtors pay up image
....Typically, there's small print to the effect the debt recovery firm is a "trading name" of the bank/utility company. This week the Student Loans Company (SLC) – a government-owned organisation – was found to have sent thousands of letters to graduates appearing to be from an independent debt agency, Smith Lawson & Company Recovery Services. ...
Student Loans Company debt collection letters lead to calls for compensation image
. The Student Loans Company is facing calls to compensate more than 300,000 graduates sent misleading "Wonga-style" debt collection letters, as it emerged that the business secretary, Vince Cable, is to meet the agency to question its tactics. ...
Events at Wonga can’t be left to slip quietly off MPs’ agenda image
Source : Independent [Read Article] Wednesday 2nd of July 2014 11:53:50 PM
....Meanwhile, it appears the Wonga practice of inventing debt recovery companies is not unique.   The Government’s own Student Loans Company (SLC) was sending out letters to cash-strapped customers under the inventively named Smith Lawson & Company Recovery Services (“SLC”, geddit?) and has been doing so for years. ...
Student Loans Company 'used Wonga style tactics'  image
Source : Telegraph [Read Article] Sunday 29th of June 2014 11:36:31 PM
. The Student Loans Company has been accused of using “Wonga style” tactics to make ensure graduates falling behind on their loans kept up their debt repayments. ...
Student loan firm Erudio under fire following government sell-off image
Source : Guardian [Read Article] Tuesday 20th of May 2014 06:00:07 AM
....The issues affect people with mortgage-style student loans taken out between 1990 and 1998. Originally administered by the Student Loans Company (SLC), these loans are repaid at a fixed monthly amount over a period of between five and seven years. ...
Land Registry workers to stage 48-hour strike over privatisation plans image
....The meeting was held in Selsdon Park hotel in Croydon, south London, away from registry staff. Ed Lester, the LR's chief executive and former head of the Student Loans Company, whose tax arrangements were criticised for being paid through a service company, was one of the board members present. ...
Apply now for loans or face delays, students urged image
Source : BBC [Read Article] Monday 5th of May 2014 11:39:25 PM
.... . Last year, more than a third of English students missed the deadline to apply and some left it until the beginning of term, said the Student Loans Company. ...
Land Registry privatisation plans revealed in leaked document image
Source : Guardian [Read Article] Monday 5th of May 2014 05:54:43 PM
....The meeting was held in a hotel in Selsdon Park Hotel in Croydon, south London, away from Rregistry staff. Ed Lester, its chief executive and former head of the Student Loans Company, whose tax arrangements were criticised for being paid through a service company, was also present. ...
Student loans: hundreds of millions of pounds unaccounted for image
Source : Guardian [Read Article] Thursday 28th of November 2013 12:38:37 AM
....The watchdog warns that the BIS has not done enough to establish whether borrowers with no current employment record are earning enough to repay their loans. While many of borrowers may not be in work, BIS, and the Student Loans Company (SLC) which helps collect payments, have carried out little analysis on how many may be working overseas, or the repayments that may have been missed, the NAO said. ...

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