Welcome to Erudio Student Loans. I joined the company recently and I am the executive responsible for running Erudio in a way that customers expect and deserve.
The transfer of 500,000 loans (representing some 250,000 individual customers) is always going to be complex, and we recognise that we didn't get everything right first time. I want to apologise for the errors we made and assure you that we have learned a lot from these, we are listening to our customers and we are working hard to make improvements.
My priority is to ensure our customers receive the high level of service they rightly expect. To do this we are introducing improvements across all aspects of Erudio. We have already taken a number of important steps, including launching a new Deferment Application Form and How to Guide (25/02/15) ahead of what is the peak deferment period for Erudio customers. The new versions of these documents were developed following customer feedback and a wider external and internal review process.
Importantly, in the new Deferment Application Form we have removed certain questions as well as highlighted where information is optional. We have also changed the layout to help you calculate your annual income.
Having listened to customer feedback, in the How to Guide we have been able to confirm that credit searches completed as part of the deferment application process will be treated as a special case and the footprint they leave on your credit file will not be shared with, or be visible to, other lenders.
We will continue to work to make the deferment and repayment processes as straightforward as possible. We recognise there are still further improvements to be made and, whilst not all of these can be implemented overnight, we will continue to listen to feedback and make the changes required to improve our service.
Executive in charge of Erudio