One in three student loan applications not yet approved

The Student Loans Company (SLC) has admitted that one in three student loan applications have not yet been approved.

According to the SLC, 276,000 students have not yet been approved a student loan this year.

The move follows last year's disaster in loan installments by the SLC which left over 50 per cent of undergraduate students unable to purchase text books and pay rent after applications had not been processed until after the acedemic year began.

Figures from the SLC revealled that 583,000 of 859,000 live applications had been prepared for payment and SLC ensured that last year's delay would not be repeated regardless of the "uncomfortable" period it faced following this week's publication of A-level results.

Desipite stating that the SLC was not fast enough last year, Simon Fraser, the Permanent Secretary at the Department for Business, Innovation and Skills, stated that he was "confident that there will be a better service this year".