Students want student loan information shared

The study for Equifax showed that 53 per cent of students want the current ban on the Student Loans Company sharing information with commercial providers to end.

“By putting student loan information on credit files we could be giving graduates a head start, by helping them gain an overview of their debts in order to manage their finances in the future, as well as giving lenders a credit history to use to help them make responsible lending decisions,” said Neil Munroe, Equifax external affairs director.

Earlier this month, Callcredit warned that graduates could be given loans they cannot manage or be refused loans because of a lack of information on student loans.

Mr Munroe said that sharing of information could be a positive act for graduates as it would show they had a credit history and help them manage their finances.

Sharing information with lenders means that graduates are more likely to get a fairer assessment for credit, preventing many from taking on debt they cannot handle.