Student Loan Book: Sale Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Ruth George
Main Page: Ruth George (Labour - High Peak)Department Debates - View all Ruth George's debates with the Department for Business, Energy and Industrial Strategy
Student Loan Book: Sale
Ruth George Excerpts(6 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Ruth George (High Peak) (Lab)
The value of these loans is raised by the extortionate interest rate being charged to ex-students—at 3% above the retail prices index, it is currently 6.1%, which is far higher than the rate for any other loan available on similar terms. Have the Government made an assessment of the impact of these loans and repayments on young people’s ability to find housing, buy a home and get a secure financial future?
Mr Gyimah
These loans are earlier loans and not affected by the current interest rate policy. I make it absolutely clear that whoever buys the loans cannot alter the terms of the loan. The post-18 review is looking at interest rates on existing loans, as well as a number of other aspects of the student finance system.