Student Loans - copies of agreements (mortgage style)

fermi

Have been asked to post up what I have and what I know, so here goes.

It seems from what I have seen that there were 2 types of agreements.

Academic years 199x -> 1997 - Agreements were issued with what seems is a more permissive data sharing clause. Clause 16. Jury is out on whether that allows reporting of deferred loans to the Credit Reference Agencies.

It is claimed it does, but only so much that it is claimed that "Erudio considers" that it does after consulting the ICO. Interesting, not that the actual "ICO considers".

Academic years 1998 -> 2002 - Agreements were issued in a new format that seems to have a more specific and restrictive data sharing clause. Clause 12. Perhaps in response to the fact that the new Data protection Act 1998 was coming into force.

The above and following is based on copies of agreements I have seen, and what I've been told regarding their issue.

I cannot warrant that everyone who took out a loan for a specific year had a particular agreement form used, but if versions were used consistently this is what seems to have happened to the best of my current knowledge.

If you want your agreement copies and T&Cs then your can request them from Erudio, Thesis, Honours SL or the SLC. Basically whoever now has legal assignment of the loans is legally the creditor under that assignment, and the request goes to them

See: Information about your agreement under the Consumer Credit Act

I will split the loan agreement copies into 2 posts below.

The copy agreements below are ones that are already publicly posted, in order to keep any anonymisation to a maximum. As said, they do match others copies I have access to.

fermi

Academic years 199x -> 1997 - Agreements were issued with what seems is a more permissive data sharing clause. Clause 16. Jury is out on whether that allows reporting of deferred loans to the Credit Reference Agencies.

It is claimed it does, but only so much that it is claimed that "Erudio considers" that it does after consulting the ICO. Interesting, not that the actual "ICO considers".

The agreement below is a copy in scanned format given to me, from 1997, but as far as I can see from copies I have seen for 1994, 1995, they match.

Agreements for proceeding and intervening years presumably match as well?

The images below are click-able thumbnails to a higher resolution copy.







For convenience the text of clause 16 is repeated below.

16 Disclosure of information

The Loan Act prohibits us from discussing information about you to anyone else for the use of soliciting custom for goods and services. The Data Protection Act 1984 also contains protections in relation to the disclosure of automatically processed information about you. Subject to these prohibitions and protections, and any other statutory provisions, we may however, if we judge appropriate, disclose to any person any information concerning or relating to this agreement.

fermi

Academic years 1998 -> 2002 - Agreements were apparently issued in a new format that seems to have a more specific and restrictive data sharing clause. Clause 12. Perhaps in response to the fact that the new Data protection Act 1998 was coming into force.

Below is a 1998 copy. This matches what I have been shown for 1999 - 2000 - 2001 in making enquiries. Presumably anyone still on the old loan system in 2002 (4 years M degree perhaps) would have received the same.

The images below are click-able thumbnails to a higher resolution copy.





For convenience the text of the data sharing clause 12 is repeated below.

12 Disclosure of information

You agree that we may process the information we hold about you (including contact names given on your application form) on computer or in any other way and use it for credit assessment and statistical analysis, including behaviour and credit scoring.

We agree that we will not give or show confidential information to anyone else for marketing purposes but you agree that we may give confidential information about you in the following cases:

(a) for fraud prevention purposes;
(b) if you have broken this agreement, to licensed credit reference agencies (who may make such information available to other lenders assessing credit application from you and other members of your household);
(c) under a strict duty of secrecy to sub-contractors or persons acting as our agents;
(d) to any person to whom we may transfer or assign our rights under this Agreement;
(e) if we have a right or duty to disclose or are compelled to do so by law.

fermi

Note: The blank spaces at the bottom of each initial page is where the detachable direct debit mandate would have been.

fermi

I shall add the copied out deferment clauses for reference to the above posts later.

erudioed

i would suggest "deemed appropriate" should be challenged by the "treating borrows fairly" principle Erudio was sold the loans under and continually repeated by ministers, BIS and even Erudio's form!

fermi

fermi wrote: »

I shall add the copied out deferment clauses for reference to the above posts later.

Should now be below.

fermi

1998 onwards loans.

fermi

Up to 1997.

fermi

SLC have also posted sample agreements under a FOI request on their website.

199x -> 1997 http://www.slc.co.uk/media/758483/pre_98_ms_credit_agreement.pdf

1998 -> 2002 http://www.slc.co.uk/media/758487/post_98_ms_credit_agreement.pdf