Student Loans Company Announces £29,000,000 Of Loan Debts Are Written Off.

The variable students fees were introduced in 2005, and this was a move that caused some controversy at the time. The UK opinion was divided down the middle between those who thought it was only fair that students should pay their fees, their books and their own maintenance expenses while studying at university while others were opposed to the idea that our most intelligent in society who after graduation would mainly prove to be an advantage to society should have to scrimp to exist while at university and this scrimping would continue after graduation when loans had to be repaid. It is to be suspected that those holding the former opinion had never attended a place of higher further education and the latter were most likely to be university graduates themselves. Since 2006 an indirect Government scheme worked through SLC has introduced student loans. At graduation the average student debt is £23,000, and when a former student starts employment he or she must start to pay back the loan via payment to the Inland Revenue. The minimum salary before the repayment of these loans start is £15,000. This is not a great deal of money after deduction of tax and National Insurance and as such a large number of students have defaulted in the repayment of their student loans. Steps of course have been taken by SLC to recoup as many of the loan arrears as possible, but as som pf these loans will never be repaid they have been forced to write off £29,000,000 in loans debts.