"We are currently contacting a number of students by telephone who we have identified as being at risk of having their details compromised, to advise them of the necessary security steps they should follow to ensure their details are protected, " said Heather Laing, fraud prevention and detection manager for the Student Loans Company.

BBC: Student Loans Company's fraud alert

To qualify even for these usurious loans, customers must pass inspection with an Elektra manager who checks reported salaries and an inspector who makes house calls to verify addresses and inventory possessions.

FORBES: The Salinas touch