So the $231 million is less than 1 percent of the company's total loans.

Back then some of the loans would have been more difficult, he said.

No one knows the market price or the true level of bad loans.

A higher rate of loan is available for students who are living away from home.

You want a low rate for the entire period of your loan.

Now only 10 percent of its new loans are made at that level.

And very few of the loans have been paid off.

Both have written off the entire value of the loans.

The total value of the loans was expected to be in the €110 billion range.

She said all of the loans continue to be paid on time.