Foreign Students Leaving the UK without Making Payments

The startling fact revealed by the Student Loan Company is quite disturbing. Almost 70% of European students who have taken loans form British banks while in the UK universities have not only failed to repay but are also absconding. Out of the 2240 students who should have started repayments, 1580 students are absconding. There are 46000 debtors who have taken a total amount and the Student Loans Company (SLC) is trying its level best to find those who are still missing without making their payments.

Most of these students who have not yet paid the necessary amount, are still enrolled in universities and would start paying only one completing one year of their graduation or if they pull out from the university. Infact, they will start repayments after they start earning more.

The SLC has also stated that 2240 students were supposed to begin their repayments by 2007 and 2008 but 59% of the students were supposed to start their repayments in 2007, did not do so. As a result, the percentage of debtors increased to 70%. David Willetts, Shadow Secretary of State for Innovation, Universities and Skills is pf the opinion that tracking should be started immediately after the students leave the country, in order to prevent such debts. The Student Loans Company should be as energetic in collecting debts across the continent of Europe as they are in collecting debts from students in Britain.

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