Student Loan Repayments

Lindsay Hoyle Excerpts

Monday 27th June 2016 Commons Chamber

[Jim Shannon]

Mr Deputy Speaker, I did seek permission from the hon. Lady.

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

I have absolutely no problem with the hon. Gentleman intervening, but he should wait a little longer, rather than walking into the Chamber to intervene. Come on, Mr Shannon—the night would not be the same without you.

[Jim Shannon]

You are most kind, Mr Deputy Speaker. I spoke to the hon. Lady beforehand. I want to put on record the fact that in Northern Ireland loans begin to be paid back when the student enters employment and earns more than £17,335 a year. The interest rate for loans is currently 1.5% and the more a graduate earns, the greater the proportion of their loan they repay, ensuring that those who benefit most from their degree pay the most, and those who do not benefit as much are not unreasonably punished for it. Does the hon. Lady agree that perhaps the Minister should look at the system that we have in Northern Ireland, which seems to be fairer?