Student Loans

Debate between Viscount Younger of Leckie and Lord Morris of Aberavon

Wednesday 13th December 2017 Lords Chamber

[Viscount Younger of Leckie]

The noble Lord is right that a graduate tax was considered as part of the reforms of several years ago. We do not think this is the right approach but we do think it right that students should be able to take out loans, which, I am sure the noble Lord will agree, further the aim of having more disadvantaged people at universities.

[Lord Morris of Aberavon (Lab)]

My Lords, can the Minister name any other government agency that charges 6.1% on loans?

Student Loans: Interest Rates

Debate between Viscount Younger of Leckie and Lord Morris of Aberavon

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.