Tag: loans

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Morrison stance on minimum wages branded ‘hypocrisy’ as student loans remain indexed at inflation rate

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The national students’ union has branded the prime minister a hypocrite for warning minimum wages cannot keep pace with inflation, while also requiring higher education loan repayments be indexed to consumer prices. S...

Former publican in court accused of sending Covid loans cash to Isis

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A former pub landlord has appeared in court accused of sending thousands of pounds in coronavirus bounceback loans to fund the terrorist group Isis in Syria. Tarek Namouz, a 42-year-old former pub landlord from London...

Names of firms given huge Covid loans will be secret

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The names of thousands of companies which benefited from billions of pounds of Covid-19 loans schemes are to be kept confidential under new government rules to only publish state subsidies of £500,000 or more. The hig...

Minimum GCSE threshold for student loans will hit poorest hardest, say experts

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Social mobility experts have warned that government proposals to introduce minimum eligibility requirements for higher education loans in England will hit poorest students hardest, in effect “closing off university pr...

UK lost up to £16bn due to fraud and error in Covid loans schemes

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Fraud and error are likely to have cost the UK government as much as £16bn across the Covid-19 emergency loan schemes, according to parliament’s spending watchdog, which described the losses as “unacceptable”. A repor...

Graduates in England face ‘tax rise by stealth’ on student loans

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Millions of graduates face higher repayments on their student loans next year after the government announced a “tax rise by stealth” that will cost many £100 or more a year. A graduate in England earning £30,000 a yea...

Minister quits in Lords over government handling of Covid loans fraud

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Boris Johnson suffered another major blow to his authority on Monday after a Treasury minister staged a dramatic public resignation over the government’s decision to write off £4.3bn in fraudulent Covid loans. Theodor...

Navient reaches $1.85bn settlement over claims of predatory US student loans

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Navient, one of the largest student loan servicing companies in the US, has made a $1.85bn settlement with a coalition of attorneys general who accused the company of predatory loan practices. The payment, which will ...

Jacob Rees-Mogg cleared of wrongdoing over £6m in cheap loans

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The parliamentary commissioner for standards has cleared Jacob Rees-Mogg of any wrongdoing in failing to declare he received £6m in cheap loans from one of his companies, concluding that they could not be seen as havi...

UK firms taking taxpayer-backed Covid loans continued donations to Tory party

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Companies that received taxpayer-backed loans to help them survive the pandemic continued to donate tens of thousands of pounds to the Conservative party, the Guardian can disclose. While there is no evidence the low-...

Amigo Loans warns it will go bust unless it resumes lending

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The troubled sub-prime lender Amigo has said it will go bust unless it is allowed to resume lending and raise new equity under a proposed new rescue plan. Amigo said that in the six months to the end of September it h...

Students who have lived in UK since childhood denied loans – report

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Thousands of students who have lived in the UK since childhood are being subjected to a regime described as even harsher than the Home Office’s “hostile environment” tactics when they apply for study loans, according ...

Students in England irate over reports of early loans repayment

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Students in England have reacted with anger to reports that the government is planning to make them start paying back their loans earlier in their careers when salaries are lower, as part of an overhaul of student fin...

UK care homes face funding crisis as banks refuse loans

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Care homes are facing a credit crunch with banks refusing to lend money or provide new services for fear that the care sector is about to crumble, senior care leaders have warned. A survey of care providers in Hampshi...

UK student loans: how to apply – and other options to consider

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If you are heading off to university next month and have not sorted out your student loans, you need to get a move on. It’s not too late to apply, but those who do so now probably won’t get all of their money in time ...

Greensill given access to Covid loans without detailed checks, watchdog reveals

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The collapsed finance firm Greensill Capital was given access to a government-backed loan scheme without being subjected to detailed checks, leaving UK taxpayers facing a £335m loss, Whitehall’s spending watchdog has ...

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