Student finance system 'open to fraud' according to Parliamentary report

  • 📰 The Yorkshire Post
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 66%

Business News News

Business Business Latest News,Business Business Headlines

The current student finance system is open to fraud, presenting risk to both students and taxpayers, according to a Parliamentary report published today.

The cross-party Public Accounts Committee , which draws on the work of the National Audit Office to examine value for money on Government projects, programmes and services, warns of the risks presented by a lack of oversight of student finance schemes. According to the new report the growing use of so-called “franchised providers” presents risks to students.

Evidence submitted to the committee’s inquiry by the OfS told how they were “shocked” by the high amounts of tuition fees retained by franchisees, with incentives to make a profit causing spend on students to be reduced. Among the report’s conclusions are that “the current regulatory system does not ensure sufficient oversight over franchised providers,” and that “roles and responsibilities for fraud prevention, detection and intervention are undefined.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 39. in BUSİNESS

Business Business Latest News, Business Business Headlines