Higher Education: Student Loans
Debate between Baroness Brinton and Lord Ahmad of Wimbledon
Baroness Brinton (LD)
My Lords, will my noble friend the Minister please confirm that no current student has to pay anything under the present scheme and that repayment starts only after they start to earn £21,000 a year? If there is concern about the repayment rates, would it not be more sensible to review these after three years of the scheme running, in 2016, rather than after just one?
Lord Ahmad of Wimbledon
My noble friend is spot on. She mentioned the threshold figure of £21,000. To reiterate, no graduate who earns less than £21,000 is required to repay their loan. She also makes a very sensible suggestion about allowing this new scheme to bed in to allow for a suitable review. This is about people’s futures. I have looked at some of the policies of the party opposite and, at the moment, there seems to be a real vacuum there.