Student Loans Company\u2019s (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>
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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>
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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\u2019s 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>
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SLC\u2019s governance performance and management is kept continually under review to ensure learners and their sponsors receive the high quality service they expect.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4169", "label" : {"_value" : "Biography information for Viscount Younger of Leckie"} } , "answeringMemberPrinted" : {"_value" : "Viscount Younger of Leckie"} , "dateOfAnswer" : {"_value" : "2017-11-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2017-11-30T17:09:00.937Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "60"} , "answeringDeptShortName" : {"_value" : "Education"} , "answeringDeptSortName" : {"_value" : "Education"} , "date" : {"_value" : "2017-11-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Student Loans Company"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what assessment they have made of the (1) performance, (2) management, and (3) governance, of the Student Loans Company; and what plans they have to review the Student Loans Company\u2019s performance and governance structures.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4286", "label" : {"_value" : "Biography information for Lord Mendelsohn"} } , "tablingMemberPrinted" : [{"_value" : "Lord Mendelsohn"} ], "uin" : "HL3313"} , {"_about" : "http://data.parliament.uk/resources/790404", "AnsweringBody" : [{"_value" : "Department for Education"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/790404/answer", "answerText" : {"_value" : "
The Student Loans Company (SLC) is subject to a rigorous programme of internal and external audits through the Government Internal Audit Agency, its external auditor KPMG, and the National Audit Office (NAO). In addition, the NAO have undertaken a number of specific reviews pertaining to SLC, such as the report into Student Loan Repayments published in November 2013 and Alternative Higher Education Providers in October 2017 (see attached reports). The SLC is also within the scope of a number of Parliamentary Committees, including the Education Select Committee and the Public Accounts Committee.<\/p>
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The reports are published at the following addresses:<\/p>
https://www.nao.org.uk/press-release/student-loan-repayments/<\/a>.<\/p>