Question to the Department for Education:

To ask the Secretary of State for Education, what alternatives to the current formula for calculating interest rates for Plan 2 student loans are under consideration by her Department.

The formula for calculating interest rates for Plan 2 student loans is set in accordance with regulation 21A of the Education (Student Loans) (Repayment) Regulations 2009 (as amended). The department has no current plans to amend these.

The department continues to look for ways to make the student finance system fairer for students, graduates and taxpayers, but it is important that these are financially sustainable.