Graduate Loan

ReadingTim

mjcritch wrote: »

Obviously I am very inexperienced but in my opinion banks are missing a trick, target the grads who are going to start earning money soon (especially on a grad scheme!) and get them trapped in with a 2 year loan.

No, the banks aren't missing a trick, and that indeed used to happen.

However, in hard economic times, one of the first areas companies cut back is in graduate recruitment, and as well as offers simply not being made, others are rescinded. Banks are then faced with trying to recover money from someone who doesn't have a job, which isn't easy.