Property News · July 29, 2017

Student Loans Company criticised over 'penalty interest' on funds


SLC put more than 33,000 people on to a ‘non-compliance interest rate’ of 3% for ‘losing touch’ with companyThe 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.Figures seen by the Guardian showed that the SLC put more than 33,000 people in England and Wales on to a “non-compliance interest rate” of 3% for failing to respond to requests for information or “losing touch” with the company. Continue reading…

Source : theguardian.com
Read more…Student Loans Company criticised over ‘penalty interest’ on funds