Students: Loans

(asked on 19th November 2020) - View Source

Question to the Department for Education:

To ask the Secretary of State for Education, what plans he has to change the regulations governing the Student Loans Company to enable that company to make adjustments to repayments for people living in overseas countries undergoing hyperinflation.


Answered by
Michelle Donelan Portrait
Michelle Donelan
Secretary of State for Science, Innovation and Technology
This question was answered on 27th November 2020

The repayment of student loans is governed by the Education (Student Loans) (Repayment) Regulations 2009 (as amended). The Student Loans Company has arrangements in place to collect repayments from all borrowers who move away from the UK by establishing a repayment schedule based on the borrower’s income.

Overseas repayment thresholds are calculated using World Bank cost of living data, which is used to compare differences between the cost of living in the UK and other countries. This data is reviewed annually. The thresholds take account of living costs in different countries, so that repayments are based on ability to repay, wherever the borrower lives.

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