Student Loans: Interest Rates

Lord Morris of Aberavon Excerpts

Monday 11th September 2017 Lords Chamber

[Viscount Younger of Leckie]

To answer the question about the £21,000, the issue was discussed at length during the passage of the Higher Education and Research Bill. When the current system was introduced, the threshold would have been around 75% of the projected average earnings for 2016. Since then, updated calculations based on ONS figures show the figure is now 83%, reflecting weaker than expected earnings.

[Lord Morris of Aberavon (Lab)]

My Lords, what is the Government’s estimate of the average debt of a graduate on leaving university?

[Viscount Younger of Leckie]

I have those figures but I will have to write to the noble and learned Lord with them; they are in my facts somewhere.