STUDENT LOANS COMPANY

That this House is extremely concerned over the failings of the Student Loans Company to deal effectively with student applications for loans in 2009; notes that when most students had commenced their courses on 4 October 2009, 175,000 were waiting for their loans of which 136,410 were first time applicants; further notes that, despite commitments to manage the backlog, 116,000 undergraduates have received no money; recognises that the Student Loans Company has had to deal with record numbers of applications but has failed to prepare adequately for the increased demand; and calls on the Department for Business, Innovation and Skills to carry out an immediate inquiry into the operation of the Student Loans Company to prevent a reoccurrence in 2010.