Students: Loans
The question
To ask the Secretary of State for Education, if her Department will make an assessment of the potential merits of introducing measures to support students with the cost of student loans.
Answered by Janet Daby
UK higher education (HE) creates opportunity, is an engine for growth in our economy and supports local communities. The department is committed to supporting the aspiration of every person who meets the requirements and wants to go to university. The department is determined that the HE funding system should deliver for our economy, for universities and for students.
The student loan system already supports students. Unlike commercial alternatives, student loans are available to all eligible students, regardless of background or financial history. The student loan system supports eligible students by providing up front tuition fee loans to meet the full costs of tuition. In addition, eligible students qualify for loans to contribute towards students living costs while attending university, with the highest levels of support paid to students from the lowest income families and those eligible for benefits.
Additionally after study, student loan borrowers are protected. Borrowers only make repayments when earning over the relevant student loan repayment threshold. At the end of the loan term, any outstanding loan debt, including interest accrued, will be written off with no detriment to the borrower.
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