Unsecured loans jumped unexpectedly in February of 2008 to EUR 2.4 billion was from the Bank of England says it will be discovered as a result of an increase in pupil / student loans to cover fees and maintenance costs.
This is the claim by the Financial Times, which said that students were the loans for a total of 800 million euros in part responsible for the increase in unsecured loans.
The Student Loans Company (SLC), is now paying directly to the universitiesStudents in their first year and second year to help cover tuition fees, since they were introduced in 2006.
The Student Loans Company said that two payments are made on the campus each year, one in February and the second in May. SLC spokesman said: "We will see a similar increase in unsecured loans at this time for the same reason. The two cohorts now get the loan and the amount to rise again next year in third place, according to which the plateau . L 'is whetherbecause you start the natural process of rotation where everyone is three years of graduation. We are at a plateau in the next year, is the wait. "
The SLC also shown that they are "almost certain" to get the maximum number of eligible persons, taking their offer of loans for inclusion. Each student is entitled to a number in the region of a million students will receive £ 2000 a year towards tuition fees, which pay as much as 3070 euros.
However,of loans taken by students after three of the four graduates still accumulating debt, even after they started their first job. Only a quarter of the University with a degree to earn enough to use their debt because of high inflation, the government set to cut lending rates of interest of students.
The government has denied the request and said that the students back, only the payment in real terms, what they were hired. AverageGraduate earn £ 18,000 and repay £ 219 a year to 10,300 euro debts. He added, however, the level of interest rates to compensate for inflation, is of 489 €.
Shadow universities secretary, David Willets MP said: "Ministers say student loans are free of interest. But this is not the case in practice. The interest rate on student loans is more than twice the official rate of inflation . Three quarters of the graduates are working to see their student loans continue to grow. Debt are more and more. For most of this group, half of all new graduates to increase their loans, but make repayments to the Student Loans Company. Only the top 25 percent of graduates in work earn enough to see their debts fall. "
President of the National Union of Students, Gemma Tumelty said: "Graduates are already difficult to repay thousands of pounds of debt and the strong increase in reimbursementPrices> things are even worse. We have always asked the government of this unjust system, and these figures only reinforce our test bench. "
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