More than half of the £19.1 billion paid out in student loans last year will be written off – with the taxpayer picking up the bill.
Official Department for Education figures estimate just 47 per cent of the money lent to university students in 2020-21 to cover their annual £9,250 tuition fees and living costs will be repaid – leaving a shortfall of about £10 billion.
Graduates need to earn at least £27,295 a year before they are eligible to start repaying their debt, with some never reaching it.
Any outstanding loans are written off after 30 years and only a quarter of students who started full-time degrees last year are expected to repay their loans in full.
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Dubai: A UK based academic and professor of human rights has written a book on UAE based private equity firm Abraaj Group and its founder Arif Naqvi.
The Pakistan-born businessman who is currently based in London is facing extradition to the US on 16 counts of fraud and related money laundering alleged to have been committed between 2014 and 2018.
The new book “The Life and Death of the Abraaj Group: Arif Naqvi, a key man or the fall guy”, by professor Brian Brivati, who is currently a visiting professor at the Kingston University explores the meteoric rise and equally spectacular fall of Abraaj Group and the international potential political intrigue that caused its ultimate downfall.
July 1, 2021
LONDON: The father of the ambulance service in Karachi and one of the top players in the private equity business globally was arrested, if you remember, back in April of 2019 after his company Abraaj had collapsed. He was charged with theft, conspiracy and a host of other things. From that day to this, the media has had only one story about Arif Naqvi.
That story has been told by the US media, most importantly the Wall Street Journal (WSJ). The WSJ journalists have called the Pakistani national “Muslim equivalent of Bernie Madoff” the famous crook paying old investors in his stockbroker business withproceeds from new investors – died earlier this year in jail. That is where the US government wants to put Arif Naqvi for nearly 300 years.
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