European students fail to payback student loans
02/03/09
According to new figures nearly seventy-five per-cent of students from the European Union are not paying back their students loans. As a result UK tax payers are being left with bills of millions of pounds.
The arrangement with paying back student loans at present relies on students themselves informing the student loan company of their earnings and they are left to contact the company to arrange to pay back their loan.
So far no action has been taken to get any money owed paid back from overseas students, although judgments can be obtained from officials in courts in the UK.
Tory shadow universities secretary, David Willetts commented, “It's very important that the Student Loans Company is as energetic in collecting debt built up by students across the continent of Europe as they must be in collecting debts from students in Britain.”
He continued, “The evidence that we're getting already shows that the Student Loans Company is being shockingly ineffective in collecting money that's owed.”
