Loany Loan

Student leaders say "heads must roll" after a report into university loan delays in England found "conspicuous failures", reports BBC News.

There have been widespread complaints about the Student Loans Company - with the problems still unresolved as the end of the university term approaches. The report found only 5% of phone calls were answered at the peak of delays. In response the Student Loans Company says there will be a "restructuring" of senior management. 

The report from Professor Sir Deian Hopkin examined delays which saw universities having to pay out hundreds of thousands of pounds in emergency funds to students left stranded without funds. It found that the processing system had faced problems with lost documents, failures with equipment and difficulties with the online application system. 

The report also claims that some board members of the loans company had to rely on news reports to find out the \"full extent of the problems\", and that students unable to get advice had to set up Facebook groups to share information.