'STUDENT LOANS COMPANY PAID £2M IN BONUSES' - BURT
November 16, 2009 4:17 PM
Originally published by Lorely Burt MP
Originally published by Lorely Burt MP
Solihull's MP, Lorely Burt has condemned nearly £2m in bonuses paid out to senior executives of the Student Loans Company as 'reward for failure' as more than 100,000 students, including many from Solihull, have been left waiting weeks to receive their loans this autumn.
The figures, received following a Freedom of Information request by the Liberal Democrats, show that £1,893,000 was paid in bonuses between 2007 and 2009.
Mrs Burt said:
"It is outrageous that the Student Loans Company, which has acted so incompetently this year, has been paying out these mouth-watering bonuses.
"While students away at university have been struggling to make ends meet, the company's top executives have been rewarded with five figure sums.
"Some of these pay-outs are more than many people earn in a year. Rewarding failure in this way is totally unacceptable."
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