From: Edmund Grech (edmund@arclightentertainment.co.uk)
Date: Sun May 12 2002 - 12:32:03 MDT
Sos, I misunderstood what you were getting at :-0
> No, it was my assumption that the loan provider was profit-making, and
> would therefore try to make things better for students in an effor to
> increase profits.
Not at all the loan is a non profit, there is no interest acrued on it -
what you are given you have to pay back pound for pound.
> Is making this sort of loan to students illegal for private entities in
> Britain?
Unsecured personal loans are of course legal - but why take one if the
government's is interest free. If you absolutely need the money well it's
your choice.
> If not, it appears that there is still a good market for private
> loans to students, though those loans would not be at interest levels
> conducive to putting the proceeds in a savings account (else the private
> provider would just do that).
Well quite, but the student body is actively working to stop the loan
process in favour of subsidies. I think if the Government were not only
making you pay your own way, but also trying to make a profit out of you at
the same time; you'd have a full scale riot on your hands.
Bear in mind that the government subsidy of old went to the university not
the students. With the money now going to the students in the form of a no
interest loan, the governmenrt had maybe hoped the Universites would admit
more students, I don't know. I do know that the Universities have bumped
prices up over the past decade and are now largely dependant for thier
survival on research work from the private sector, and or in the case of the
University I will attend foriegn investment which comes with conditions of
places for thier pupils.
Edmund
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