Latest Debt News
SLC gets tough with student debt
15/12/2005 17:12:00
Students struggling with debt problems will be distraught to hear that the government's Student Loans Company (SLC) is drawing up plans to blacklist students who miss repayments on their loans.
Under the SLC proposals, students could be prevented from getting mortgages, personal loans and credit cards until they have resolved their bad credit situation.
There are believed to be more than 59,000 graduates with debt problems amounting to £162.5 million. In addition to this are the 58,000 students who are falling behind their repayments.
SLC chief executive, Ralph Seymour-Jackson, explained: "First, this is a debt to the taxpayer and needs to be collected.
"There is also the issue of responsible lending where banks need to have a full picture of the debts a borrower has in order to make the right lending decisions."
© Adfero Ltd