A government update to student loan guidance now explicitly warns borrowers that terms and conditions may change, following criticism over misleading comparisons and communications. Lawmakers previously highlighted concerns that promotional materials—such as slideshows and YouTube videos—failed to clearly state that repayment conditions could be revised. The move comes after a report accused the government of mis-selling loans by downplaying the flexibility of the three-year repayment freeze. Students are now being urged to review the fine print before committing to their loan agreements.
Criticism of three-year threshold repayment freeze prompts update to guidance warning terms and conditions could changeUniversity students taking out student loans are to be warned that the terms and conditions could change so they are better informed about what they are signing up to, the government has said.In July, a report by MPs said slideshows that compared student loan repayments to the cost of a mobile phone contract, and YouTube videos that did not mention the fact that conditions could be altered amounted to mis-selling by the government. Continue reading...
