Higher Education Policy

Debate between Stella Creasy and Lilian Greenwood

Wednesday 27th April 2011 Commons Chamber

[Lilian Greenwood]

The concern that many of my constituents express is that they will have to pay back at least three times more than they would if they were a student now or had been recently.

[Stella Creasy (Walthamstow) (Lab/Co-op)]

One difficulty is that we do not know the real rate of interest that will be charged. When we debated the Education Bill, Opposition Members proposed measures that would enable us to find out what those interest rates would be, but Government Members, including the hon. Member for Beverley and Holderness (Mr Stuart), voted against such a process, so we simply cannot tell how much the bills will be for our constituents.

[Lilian Greenwood]

My hon. Friend is absolutely right. The fact is that many of my constituents who are considering going to university are terrified at the prospect of paying back debts of £30,000 or £40,000. That is about not just how much they have to pay, but how long they have to pay for. I am sorry that the Minister would not take my intervention, but under a graduate tax system, surely those who earn more would pay more.