The Chairman and Chief Executive of the Student Loans Company (SLC) have been forced to quit after thousands of students were left without grants or loans following the chaos of the loans system.

John Goodfellow was asked to step down as Chairman while the Chief Executive Ralph Seymour-Jackson was forced to quit after ministers said they had ‘no confidence’ in his leadership.

Thousands of students were left without loans or grants at the start of term, with long delays meaning that many were still left without any cash halfway through the term following a catalogue of administration problems.

The Universities Minister, David Willetts, said: “Last year the service fell short of what students and their parents had every right to expect. While improvements have been put in place since last year, we are not out of the woods yet.”

Business Secretary, Vince Cable, added: “Last year’s crisis in the Student Loans Company caused real upset for students and their families, many of whom lost confidence in the system. We must

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