Higher Education minister David Lammy has ordered an inquiry of the Student Loans Company (SLC) after thousands of students across the UK were forced to start university without having received their loans. Mr Lammy has asked Sir Deian Hopkin, former vice-chancellor of London South Bank University, and Bernadette Kenny, the director general of Personal Tax for HM Revenue and Customs, to undertake the inquiry to find the reasons behind the loans crisis. In response to the announcement of the inquiry, Wes Streeting, president of the National Union of Students, said: "I am relieved that Sir Deian Hopkin and Bernadette Kenny have been appointed to cast an independent eye on the investigation into what has gone so spectacularly wrong with the payment of students' grants and loans this summer" Mr Seymour-Jackson added: "Students who have sent their application and correct evidence by mid-August and have received an initial non-means tested assessment will receive their full entitlement by the end of October. Shadow universities and skills secretary David Willetts said the latest figures released by the Student Loans Company indicate the system has " collapsed" and accused ministers of failing to tackle an issue they were warned about weeks ago. The National Union of Students (NUS) has called on Student Loans Company (SLC) chief Ralph Seymour-Jackson "to take full responsibility for this shambles and resign immediately".
Congressional Democrats on Thursday trimmed their original student loan plans, reduced spending for community colleges, and eliminated early childhood money from a broad rewrite of a college aid bill piggybacked on to fast-track health care legislation. The student loan measure would be ...
Congressional Democrats on Thursday trimmed their original student loan plans, reduced spending for community colleges, and eliminated early childhood money from a broad rewrite of a college aid bill piggybacked on to fast-track health care legislation. The student loan measure would be ...
Banks reduce their borrowing by average of $2.24 billion from Fed's emergency loan program Banks borrowed less from the Federal Reserve's emergency lending program over the past week in a further sign that the strains from the financial crisis are fading. The ...
Rates on 30-year mortgages edge up, but remain below 5 percent as Fed prepares exit Mortgage rates held below the 5 percent threshold for the third straight week as the Federal Reserve prepares to end a program that has kept rates at ...
Californians losing their homes face big tax bills unless Schwarzenegger, lawmakers compromise What should have been a legislative afterthought is threatening to become a financial purgatory for thousands of California taxpayers hit by the housing crisis. With less than a month until ...
MMI offers tips for understanding the CARD Act While only 10 percent of respondents in a recent Money Management International (MMI) survey believe students should use credit cards to finance college costs, many students get their first credit card while they are ...
New court data show surge in cases related to consumer issues in fiscal 2009 The number of new cases in federal courts related to consumer issues surged in the year ended last Sept. 30 as Americans battered by the recession fought foreclosures ...
Fed holds rates at record lows to foster recovery; view of economy slightly more upbeat The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment. But the Fed's ...
How Boomers can turn around the reversals of fortune in time for retirement Economists say that, technically, the recession is over and the economy is starting to move again. But for millions of Baby Boomers, the pain is still with us, including ...
Paul Goulet hopes Connecticut will help him get from under nearly $8,000 he's borrowed for college after losing his job in a paper manufacturing plant. Goulet, 55, is a student in environmental studies at Goodwin College in East Hartford, aiming to find ...
