In the past 12 months, over 70 universities in the United Kingdom have placed £22 million ($36 million) of student debt with Kent-based debt collection agency STA Graydon.
The debt, covering 12,000 students, represents an average of £1,800 ($3,000) per student, and includes unpaid tuition, accommodation and sundry fees. With tuition fees for UK undergraduates currently just over £3,000, there is much speculation about the impact on university student debt levels when these fees almost triple to £9,000 next year.
STA Graydon’s dedicated Higher Education debt collection division operates from 9 a.m. until 9 p.m. Monday through Friday and, in the last 12 months, collected debt from students, or their sponsors, in 103 countries. All debt is from prior academic years and is placed after a university has exhausted its own collection efforts. Transient students are traced to a new address, full payment is negotiated, or, for hardship cases, income and expenditure analysis serves to agree instalment plans. Only a small minority of cases ever require legal action.
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