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Student Loans Company Under Fire for Slow Improvement

Tuesday 7th December 2010

A committee of MPs has examined the Student Loans Company’s operations this year compared with 2009, when many students were left without funds when they started their higher education courses. The committee noted that although the service was much better, the rate at which it was improving was disappointing. 25% of applicants for student loans again started this year without receiving their funds, although many of these applied late.

Margaret Hodge, chairwoman of the House of Commons public accounts committee, said a "step change" was needed in the SLC’s performance "if students are to receive the efficient, effective, value-for-money service to which they are entitled".

The SLC defended itself by saying that 99% of students who applied with the right documentation by the relevant deadline had received their funding on time. The 26% of applicants referred to in the report were those who had not provided the right documents, had not signed their loan declaration form or who had not had their National Insurance number verified, the SLC said.



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