Erudio Student Loans row: Graduates fear company will pass on deferred loans details


Click to follow
The Independent Online

The row over deferred student loans continued this week as 45,000 former students from the 1990s have been coping with fresh demands for information from Erudio Student Loans, the debt collector that bought the loans from the Government.

Graduates fear the company will pass on details of deferred loans to credit reference agencies, leaving a black mark, although Experian suggests that the move could improve people's ratings.

There have also been accusations that the company has changed the terms and conditions of the loans, although it denies that.

For one Independent reader, it's been a nightmare. She had money taken from her account last week even though her loan is deferred.

When contacted by The Independent, Zachary Lewy, the founder of Erudio's owner, Arrow Global, stepped in. "Erudio has clearly mishandled your case," he said.

To apologise the firm has put £100 in our reader's account, but her fears remain, and she asks: "How many other former students have been unfairly hit by this company taking cash that it shouldn't?"

Looking for credit card or current account deals? Search here