By
Laura Clark
Last updated at 7:11 AM on 2nd February 2012
The senior public servant responsible for chasing students for loan repayments has avoided paying thousands of pounds in income tax, it emerged last night.
Ed Lester, chief executive of the Student Loans Company, has been paid his salary through a private company, allowing him to cut an estimated £40,000 a year from his tax bill.
The revelation is a huge embarrassment for the Coalition after it emerged that ministers approved the deal.
Student Loans company boss Ed Lester earns an annual salary of £140,000
It is certain to infuriate students and their families who are forced to take out thousands of pounds in loans to cover tuition fees and living costs at university.
For three-year courses starting this autumn, they face the prospect of taking out loans up to a maximum of £50,000, with interest charges on repayments of 3 per cent above inflation.
Richard Bacon, Conservative MP for South Norfolk, said: ‘Students will be absolutely horrified that the company chasing them to make repayments is run by someone who has managed to
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