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Government loses £600m in student loan sell off.

Government loses £600m in student loan sell off.

The Government has lost more than £600m in future earnings as a result of its decision to sell off student loans “too cheaply”, the spending watchdog has warned. The National Audit Office has criticised both the Department for Education and the Treasury for failing to secure sufficient value for money for taxpayers when selling the student loan book. According to a report published today by the watchdog, the DfE sold the first batch of income-based loans with a face value of £3.5bn for £1.7bn, securing 48p in every £1 of loans sold.

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