Watchdog called in on private college use of student loans

By John Morgan. The UK’s public spending watchdog has been asked to investigate possible misuse of public money in the student loans system by for-profit colleges. The government has allowed private and for-profit providers to expand their numbers of students with public-backed loans without any restrictions on their student numbers. Nearly £1 billion will be paid out to students at private providers by the Student Loans Company next year, up from just £30 million in 2010. More...