Company to profit from chasing student debts

A second Pounds 1 billion lump of debt owed by students has been sold to the private sector. The successful company, which stands to profit from recouping the debt on student loans taken out since 1990, is Honour Trustee Limited. It is a special-purpose company set up specifically to acquire the debt assets. It is underwritten by the Nationwide Building Society and the Deutsche Bank. The first Pounds 1 billion chunk of loan debt was sold to Finance for Higher Education Limited, which was formed by Greenwich NatWest, a division of the NatWest Bank. About Pounds 1.5 billion-worth of debt remains for disposal to the private sector.

Already registered?

Sign in now if you are already registered or a current subscriber. Or subscribe for unrestricted access to our digital editions and iPad and iPhone app.

Register to continue  

You've enjoyed reading five THE articles this month. Register now to get five more, or subscribe for unrestricted access.

Most Commented

  • Man measuring bar graphs with tape measure

An Elsevier analysis explores the viability of a ‘smarter and cheaper’ model

  • David Willetts

The former universities minister discusses the reforms that reshaped higher education and his first steps into academia

  • Man holding a box filled with work-related items

Refusal by John Allen to obey instruction from manager at Queen Mary University of London led to his sacking, tribunal rules

  • A black and white crowd scene with a few people highlighted

What are the key issues local union branches are dealing with, and how do they manage relationships with institutions in what many activists argue is an increasingly confrontational environment?

  • Muslim woman at graduation ceremony, Barbican, London

Sector called on to embrace faith-related concerns in intellectual debates