Martin Lewis hits out at ‘dangerous’ new tool from Student Loans Company

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Martin Lewis, founder of MoneySavingExpert, has been campaigning against scam ads online for over a year: Steve Parsons/PA Archive/PA Images
Martin Lewis, founder of MoneySavingExpert, has been campaigning against scam ads online for over a year: Steve Parsons/PA Archive/PA Images

Financial campaigner Martin Lewis today blasted the Student Loans Company’s new website, dubbing it “demoralising, damaging and dangerous”.

The SLC moved its site from SLC.co.uk to Gov.uk and features tools to show students how much they owe.

However Lewis argued the tools encourage students to pay off their debts faster, even though there is no financial benefit to doing so. Annual repayments are set at 9% of anything a former student earns over a certain threshold, which is currently £26,575 per year.

Lewis, the founder of financial planning site Moneysavingexpert.com and the former head of the independent taskforce on student finance information, said: “The first thing university leavers see when they log in, in a large font, is the amount of ‘debt they owe’. This is demoralising, damaging and dangerous….

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Martin Lewis hits out at “dangerous” new tool from Student Loans Company

dhita yudha

Martin Lewis, founder of MoneySavingExpert, has been campaigning against scam ads online for over a year: Steve Parsons/PA Archive/PA Images
Martin Lewis, founder of MoneySavingExpert, has been campaigning against scam ads online for over a year: Steve Parsons/PA Archive/PA Images

Financial campaigner Martin Lewis today blasted the Student Loans Company’s new website, dubbing it “demoralising, damaging and dangerous”.

The SLC moved its site from SLC.co.uk to Gov.uk and features tools to show students how much they owe.

However Lewis argued the tools encourage students to pay off their debts faster, even though there is no financial benefit to doing so. Annual repayments are set at 9% of anything a former student earns over a certain threshold, which is currently £26,575 per year.

Lewis, the founder of financial planning site Moneysavingexpert.com and the former head of the independent taskforce on student finance information, said: “The first thing university leavers see when they log in, in a large font, is the amount of ‘debt they owe’. This is demoralising, damaging and dangerous….

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Could this new virtual shopping service save John Lewis?

dhita yudha

Hannah Betts hits the (virtual shops) testing John Lewis's new online personal shopping service
Hannah Betts hits the (virtual shops) testing John Lewis’s new online personal shopping service

I am sitting in my flat in my pyjamas sipping tea while my two new best friends guide me through an Aladdin’s cave via Zoom. “The challenge we set ourselves,” beams one “was to build Hannah’s Dream World, full of your favourite clothes, accessories, make up, perfume, boyfriend styling and décor.”

Behold: an array of jewel-coloured satin dresses, the yellow handbag I have been searching for for years, and the cream lace bra I have been too housebound to seek out. All I have to do is click my fingers – or rather my laptop – and this cornucopia will be chauffeured over. As fantasies go, this is pretty much the dizzy height of them.

Four weeks after the British high-street re-opened, the world and his wife – in particular his wife – do not seem

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