Question

To ask the Secretary of State for Business, Innovation and Skills, for what reason his Department sets an age limit for the receipt of funding for Masters degrees; and if he will make a statement.

The new loan to support Master’s study has an upper age limit to ensure the scheme overall is affordable and offers value for money. The new postgraduate loan will be repaid from earnings on an income contingent basis, in this case 6% of earned annual income above the threshold of £21,000. We are therefore limiting eligibility to cover those likely to continue in employment and enter repayments.