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16/06/2006
Graduates loans arrears rise
The latest figures from the Student Loans Company (SLC) have revealed that many students are struggling to keep up their loan repayments.
SLC reported that loan arrears were outstanding on £186m made in student loans in the year 2005 to 2006.
This takes the total to almost £19bn owed on loans made to students and graduates.
MPs have called on the government to address the problem of student loans urgently.
Most of the outstanding loan arrears are on the older-style 'mortgage' loans which rely on the students paying by direct debit arrangements.
The system was changed in 1998, replaced by a new repayment system based on income, with direct deductions from pay by employers.
The figures also revealed a rise in debt cancellations which have risen by almost a third on the previous year.
Sarah Teather, Liberal Democrat spokesperson on Education, said that an entire generation of young people faced "unprecedented" levels of debt burden that would affect their lives and had serious long-term implications for financial security.
(SP/CD)
SLC reported that loan arrears were outstanding on £186m made in student loans in the year 2005 to 2006.
This takes the total to almost £19bn owed on loans made to students and graduates.
MPs have called on the government to address the problem of student loans urgently.
Most of the outstanding loan arrears are on the older-style 'mortgage' loans which rely on the students paying by direct debit arrangements.
The system was changed in 1998, replaced by a new repayment system based on income, with direct deductions from pay by employers.
The figures also revealed a rise in debt cancellations which have risen by almost a third on the previous year.
Sarah Teather, Liberal Democrat spokesperson on Education, said that an entire generation of young people faced "unprecedented" levels of debt burden that would affect their lives and had serious long-term implications for financial security.
(SP/CD)
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Labour Question Tax Deal For Student Loans Chief
Labour's Shadow Exchequer Secretary has called for an investigation after reports emerged that the chief executive of the Student Loans Company was paid through a third party company.
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NAO Critical Of Student Loan Recovery System
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NAO Critical Of Student Loan Recovery System
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Payday Loans Fuel UK Debt Problems Says Charity
Payday loans providing people with last minute cash before their pay check arrives is fuelling consumer debt problems, according to research by a debt charity. The survey by the Debt Advice Foundation (DAF) found 41% of those struggling with debt are saying their financial problems are the result of high-interest ‘payday’ lending schemes.
Payday Loans Fuel UK Debt Problems Says Charity
Payday loans providing people with last minute cash before their pay check arrives is fuelling consumer debt problems, according to research by a debt charity. The survey by the Debt Advice Foundation (DAF) found 41% of those struggling with debt are saying their financial problems are the result of high-interest ‘payday’ lending schemes.
17 December 2009
National News In Brief
White Christmas? About 200 drivers on the M20 and M2 in Kent were stuck in tailbacks overnight and flights have also been cancelled. Other commuters are also experiencing travel disruption as heavy snow falls across much of the UK, with south-east and east England worst affected.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
