Student loan information lies outside the normal practice of sharing debt and repayment history, meaning commercial lenders cannot assess whether they are lending to people who will struggle to pay back the loan. Callcredit industry affairs director, Mel Mitchley, explained:…
Continue reading the "Student loan obscurity skews credit chances" »
The sample of under-30s surveyed gave an average amount of £1,073 owed per person in credit card debt, below half of the average debt incurred by 30-50 year-olds. The under-30s made greater use of overdrafts, with 51 per cent using…
Continue reading the "Under-30s avoid credit card spending but spread debts" »
The lender has launched the ‘Buy for Uni’ mortgage, a 100 per cent loan, after discovering through research that there is apparently little difference between average student rents and average mortgage payments in Bath. The building society’s target customers are…
Bradford & Bingley’s Duncan Pownall, who runs the mortgage development sector at the lender, said that even though increasing numbers of young people were in debt it did not mean they would be unable to borrow money. Citing new research…
Peter Brown of educational consultants Gabbitas, and author of the report, found that graduates are an average age of 33 before their lifetime net earnings after the costs of education overtake someone who began working straight after school at the…
Continue reading the "Graduate debt hurts earning into 30s" »
Higher education minister Bill Rammell yesterday announced his initiatives to help the government reach its target of 50 per cent in higher education. By introducing a credit system similar to those used in the American higher education situation Mr Rammell…
Continue reading the "Two year degrees to help student debt" »
Whereas in 1995/6 376 people became bankrupt, 655 people fell victim to debt pressures in 2005/6. In particular those aged between 18 and 29 emerged as an increasingly vulnerable group, with the percentage of bankrupts coming from the young doubling…
Continue reading the "Bankruptcies up in the east of England in Suffolk" »
Fortunately, student loans can be included in an IVA – we’ve done several of these recently and had it confirmed today that the Student Loan Company is still looking favourably on reasonable IVAs. However, the person we spoke to in…
Continue reading the "Student loans: bankruptcy can’t help – but an IVA can" »
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