...believe more students will opt for bankruptcy despite efforts to stop them

Article Abstract:

The introduction of the Enterprise Act, a new piece of legislation designed to help entrepreneurs, from April 2004 will make the option of bankruptcy a more attractive proposition for students looking for a way out of their debts. It is argued that the Act, which will, once it comes into effect, allow bankrupts to wipe the slate clean after only a matter of months rather than the three years that it currently takes, will be very attractive to students stuck with very large debts, allowing them to default on government loans and land the taxpayer with large bills.

Finance, College costs, Higher education costs, Bankruptcy, Company bankruptcy, Educational aspects

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Cabbie hails student loan victory

Article Abstract:

Finbarr Ward, a self-employed graduate cab driver, has won UKPd2,000 in compensation from the Student Loans Company (SLC) after the SLC misinforming him about how low he needed to keep his earnings in order to avoid repaying his loan. Following a complaint from Ward, an independent complaints assessor judged that Ward could have earned more without reaching the repayment threshold and noted that the SLC's senior managers should "assure themselves that all appropriate staff understand the treatment of business expenses of self-employed applicants for deferment".

Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Company legal issue, Cases, Financial services industry, Ward, Finbarr, Student Loans Company Ltd.

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Fury over kickback allegation

Article Abstract:

The academic administrators in U.S. are dragged into a scandal of student loan industry. The private loan lenders are luring the universities and students with attractive incentives while the interest rates are more than twice the rate for government's loan.

United States, Government expenditures, Students, Senior High, High school students, Federal aid to higher education, Government aid to higher education, Government finance

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