Education: Student Loans

Baroness Brinton Excerpts

Monday 3rd June 2013 Lords Chamber

[Baroness Garden of Frognal]

Those figures are not holding up as the noble Lord says, because substantial numbers of students are still applying for university. There was of course an increase last year when people applied early, ahead of the new scheme, but the figures we are getting back from the higher education authorities show that the numbers going into higher education are still holding up. We very much hope that the new fee structure will not be a deterrent; in fact, it may well help many of the students whom we most wish to attract to higher education.

[Baroness Brinton]

My Lords, given that the calculations for the new student loans scheme under the progressive tuition-fee scheme show that it would take a minimum of two to three years before the payments start to come in and therefore balance the system out, what plans do the Government have to review the new arrangements to make sure that they are on track?

[Baroness Garden of Frognal]

My noble friend makes a valid point. We are constantly monitoring and reviewing the system to make sure that it is providing a good deal, that it is fair and accessible for students and that it is a good deal for the taxpayer. We shall be monitoring it at regular intervals to make sure that it is still doing what we hope it will.