Student finance body joins CIFAS

Those researching student finance might be interested to learn that the Student Loans Company (SLC) has joined CIFAS – the UK’s fraud prevention service.

With the SLC providing grants and credit to more than one million students each year and dealing with repayments from more than three million graduates and former students, it is open to fraudulent claims and has to remain vigilant.

CIFAS claimed that by joining its ranks, the SLC has increased its chances of screening out false identities and spotting potential fraudsters.

The organisation will also be able to add fraudulent applications to the National Fraud Database, which should help more than 250 member organisations avoid becoming victims.

SLC fraud prevention and detection manager Heather Laing said: “As a government organisation, we have an obligation to ensure that student funds are paid to all eligible students.

“We have joined CIFAS to allow us to exchange fraudulent applicant data to help prevent fraud.”

She added that investing in prevention helps protect student funds without restricting services to genuine applicants.

SLC recently reported that most student applications are on track for being processed in time for the start of term.