| answer text |
<p>Student Loans Company’s (SLC) performance remains strong, with customer satisfaction
rates for applicants currently stable at around 85%, and for borrowers in repayment
at around 72%. In this academic year, SLC has processed over 1.4 million applications
for student funding, and has paid out approximately £2.5 billion in maintenance funding
and £2 billion in tuition fee payments to providers.</p><p> </p><p>SLC services around
1.8 million applications per year, responds to 4.5 million phone calls from borrowers
and has over 6 million repaying or due to repay customers with loans totalling more
than £100 billion. In addition, it has delivered a range of new products on time and
successfully. This includes Post Graduate Loans and simplified Advanced Learner Loans.
SLC has demonstrated significant improvements in its operational performance over
the last 6 years, and last year the Company received complaints about its service
from fewer than 0.1% of its customers.</p><p> </p><p>In addition, the performance
of the Chief Executive Officer (CEO) is reviewed regularly by the chairman, and annually
by the responsible minister. Following the recent termination of the CEO’s contract,
the SLC Board, in consultation with its shareholders, has acted swiftly to appoint
Peter Lauener, currently Chief Executive of the Education and Standards Funding Agency,
and Institute for Apprenticeships, as Interim CEO from Monday 27 November.</p><p>
</p><p>SLC’s governance performance and management is kept continually under review
to ensure learners and their sponsors receive the high quality service they expect.</p>
|
|
