I believe this claim in their “A Guide Terms and Conditions” is misleading:

“however long it takes you to repay your loan you will pay no more, in real terms than, you actually borrowed”

This could only be a true if the amount owed was reduced when inflation was negative. I may be wrong but I do not believe that to be the case.

A student could in theory be paying back their student loan at age 64 having left university at 24 a lot can happen to the economy in 40 years, a lot has happened in the last two years!

The explanation of the terms and conditions should not give a one-sided view of what might happen to the economy when describing a financial product.

I know people can read the full terms and conditions but the guidance should be a fair summary.

I have complained to the ASA in case there is anything they can do to clear this up: http://www.asa.org.uk/asa/how_to_complain/

Leave a reply


<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>