Erudio Student Loans is a consortium formed by debt collectors Arrow Global and private equity firm CarVal Investors in 2013.
[1][2] The Independent noted that debt collectors Arrow performed very poorly during the credit crunch and that similar organisations had a reputation for unwarranted threatening letters, phone calls and visits; David Willetts had ignored the implications for former students, his prime objective was to reduce public debt.
According to The Guardian, some Erudio customers have noted an attempt to change loan conditions.
[5] In April 2016, another error saw the company demanding repayments after it failed to send out 250,000 deferral forms, with some customers declaring themselves "bewildered by Erudio’s administrative problems".
The company denied the omissions were a tactic designed to trick people into repaying the loan and issued a public apology.