Education: Student Loans
Debate between Baroness Garden of Frognal and Lord Naseby
Lord Naseby
To ask Her Majesty’s Government whether they have any proposals to privatise or reorganise the handling and repayment of student loans.
Baroness Garden of Frognal
My Lords, the Government continue to explore options for monetising student loans and launched a sale of the remaining mortgage-style student loans in March. Any future sale of income-contingent repayment student loans would take place only if it reduced the Government’s risk exposure to the loan book, represented value for money for the taxpayer and ensured protection of borrowers.
Lord Naseby
My Lords, is my noble friend aware that the selling-off of the earlier mortgage book is greatly welcomed? However, the current loan book now stands at close to an estimated £40 million and no fewer than 22% of students from overseas are either not paying or have disappeared, and that involves a figure of no less than £50 million. What are the Government doing about this failure to repay by students who have taken loans, not least because if no further action is taken, that figure of £50 million will rise well into the hundreds of millions due to the recent increase in student loans?
Olympic Games: British Companies
Debate between Baroness Garden of Frognal and Lord Naseby
Baroness Garden of Frognal
My Lords, as I set out in my original Answer, they are able to publicise what they are doing in connection with the Olympics as long as it is within the context of the contract which they have signed with LOCOG. They will also be the beneficiaries of the initiatives going on during the Games to ensure that our businesses are highlighted when the international focus is on London during the Games.
Lord Wade of Chorlton
My Lords, if one of the benefits of the Olympic Games is to encourage people to get more involved in sport, why not keep the site open next year and have an industrial exhibition to encourage people to be wealth creators?