Education: Student Loans

Lord Christopher Excerpts

Monday 3rd June 2013 Lords Chamber

[Baroness Garden of Frognal]

My noble friend makes a valid point. We are constantly monitoring and reviewing the system to make sure that it is providing a good deal, that it is fair and accessible for students and that it is a good deal for the taxpayer. We shall be monitoring it at regular intervals to make sure that it is still doing what we hope it will.

[Lord Christopher]

My Lords, in the event that there is a sale of these debts, will there be an embargo on the use of bailiffs?

[Baroness Garden of Frognal]

My Lords, it is not the company but the loan book which was launched in March; the sale of mortgage-style loans is currently out for tender and we do not know how it will result. I can assure the noble Lord that we shall be looking very carefully to ensure that any company that purchases these loans provides protection for the borrowers as well as a financial repayment.