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57820
unstar this property registered interest false more like this
star this property date less than 2014-06-04more like thismore than 2014-06-04
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, if he will consider changing student loan payments from three termly instalments to monthly instalments; and what steps his Department has taken to help students learn to budget. more like this
star this property tabling member constituency Leeds North West more like this
star this property tabling member printed
Greg Mulholland more like this
star this property uin 198825 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-09more like thismore than 2014-06-09
star this property answer text <p> </p><p>The Government is not currently intending to change student loan payments from three termly instalments to monthly instalments. Payments of living costs support for full-time students in higher education at the start of each term give students the flexibility to meet up-front costs such as accommodation costs.</p><p> </p><p>Advice on effective budgeting is available through the BIS Student Finance Tour where recent graduates share their personal experience with prospective students on how to manage their living costs spending while at university. Around 120,000 prospective students attended the Tour in 2013, and the aim is to increase this number to 140,000 in 2014. Budgeting advice is also available through university student support services including the Money Doctors Initiative. Additional resources are available through the National Union of Students and the National Association of Student Money Advisers. <br></p><p> </p><p> </p><p> </p> more like this
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-09T15:43:44.6640972Zmore like thismore than 2014-06-09T15:43:44.6640972Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1540
star this property label Biography information for Greg Mulholland more like this
60653
unstar this property registered interest false more like this
star this property date less than 2014-06-09more like thismore than 2014-06-09
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what recent assessment he has made of the current eligibility criteria for higher education maintenance loans. more like this
star this property tabling member constituency Cannock Chase more like this
star this property tabling member printed
Mr Aidan Burley more like this
star this property uin 199673 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-16more like thismore than 2014-06-16
star this property answer text <p> </p><p>The Department for Business, Innovation and Skills will continue to require students seeking maintenance loans to meet criteria includeing residency, type of course and place of study.</p><p> </p> more like this
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-16T16:05:45.5554554Zmore like thismore than 2014-06-16T16:05:45.5554554Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
3937
star this property label Biography information for Mr Aidan Burley more like this
61140
unstar this property registered interest false more like this
star this property date less than 2014-06-10more like thismore than 2014-06-10
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the proportion of student loans that have been issued in the last five years that are expected to be repaid in full. more like this
star this property tabling member constituency Ribble Valley more like this
star this property tabling member printed
Mr Nigel Evans more like this
star this property uin 200167 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-16more like thismore than 2014-06-16
star this property answer text <p> </p><p>Our modelling indicates that, under the pre-2012 system, around 60% of students will fully repay their loans. For the post-2012 system this figure is around 40%. These figures relate to the proportion of students with loans. The RAB charge is a different calculation, which estimates the proportion of the entire student loan book that will not be repaid.</p><p> </p><p> </p><p> </p> more like this
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-16T16:56:42.4000638Zmore like thismore than 2014-06-16T16:56:42.4000638Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
474
star this property label Biography information for Mr Nigel Evans more like this
61401
unstar this property registered interest false more like this
star this property date less than 2014-06-11more like thismore than 2014-06-11
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what recent estimate he has made of the cash value of the student loan book in each year to 2050 (a) before and (b) after sales of student loans. more like this
star this property tabling member constituency Birmingham, Hodge Hill more like this
star this property tabling member printed
Mr Liam Byrne more like this
star this property uin 200265 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-18more like thismore than 2014-06-18
star this property answer text <p> </p><p>(a) We estimate the cash value of ICR student loans to follow approximately this profile going forwards.</p><p> </p><p> </p><p> </p><p>Value of loan book in real terms</p><p> </p><table><tbody><tr><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td><td><p>2022-23</p></td><td><p>2023-24</p></td></tr><tr><td><p>£70bn</p></td><td><p>£80bn</p></td><td><p>£90bn</p></td><td><p>£100bn</p></td><td><p>£110bn</p></td><td><p>£120bn</p></td><td><p>£130bn</p></td><td><p>£140bn</p></td><td><p>£150bn</p></td><td><p>£160bn</p></td></tr><tr><td><p>2024-25</p></td><td><p>2025-26</p></td><td><p>2026-27</p></td><td><p>2027-28</p></td><td><p>2028-29</p></td><td><p>2029-30</p></td><td><p>2030-31</p></td><td><p>2031-32</p></td><td><p>2032-33</p></td><td><p>2033-34</p></td></tr><tr><td><p>£170bn</p></td><td><p>£180bn</p></td><td><p>£190bn</p></td><td><p>£200bn</p></td><td><p>£210bn</p></td><td><p>£220bn</p></td><td><p>£230bn</p></td><td><p>£240bn</p></td><td><p>£250bn</p></td><td><p>£260bn</p></td></tr><tr><td><p>2034-35</p></td><td><p>2035-36</p></td><td><p>2036-37</p></td><td><p>2037-38</p></td><td><p>2038-39</p></td><td><p>2039-40</p></td><td><p>2040-41</p></td><td><p>2041-42</p></td><td><p>2042-43</p></td><td><p>2043-44</p></td></tr><tr><td><p>£260bn</p></td><td><p>£270bn</p></td><td><p>£280bn</p></td><td><p>£280bn</p></td><td><p>£290bn</p></td><td><p>£300bn</p></td><td><p>£300bn</p></td><td><p>£310bn</p></td><td><p>£320bn</p></td><td><p>£320bn</p></td></tr><tr><td><p>2044-45</p></td><td><p>2045-46</p></td><td><p>2046-47</p></td><td><p>2047-48</p></td><td><p>2048-49</p></td><td><p>2049-50</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>Value of loan book in nominal terms</p><p> </p><table><tbody><tr><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td><td><p>2022-23</p></td><td><p>2023-24</p></td></tr><tr><td><p>£70bn</p></td><td><p>£80bn</p></td><td><p>£100bn</p></td><td><p>£110bn</p></td><td><p>£130bn</p></td><td><p>£150bn</p></td><td><p>£170bn</p></td><td><p>£190bn</p></td><td><p>£210bn</p></td><td><p>£230bn</p></td></tr><tr><td><p>2024-25</p></td><td><p>2025-26</p></td><td><p>2026-27</p></td><td><p>2027-28</p></td><td><p>2028-29</p></td><td><p>2029-30</p></td><td><p>2030-31</p></td><td><p>2031-32</p></td><td><p>2032-33</p></td><td><p>2033-34</p></td></tr><tr><td><p>£250bn</p></td><td><p>£270bn</p></td><td><p>£300bn</p></td><td><p>£320bn</p></td><td><p>£350bn</p></td><td><p>£380bn</p></td><td><p>£410bn</p></td><td><p>£440bn</p></td><td><p>£470bn</p></td><td><p>£500bn</p></td></tr><tr><td><p>2034-35</p></td><td><p>2035-36</p></td><td><p>2036-37</p></td><td><p>2037-38</p></td><td><p>2038-39</p></td><td><p>2039-40</p></td><td><p>2040-41</p></td><td><p>2041-42</p></td><td><p>2042-43</p></td><td><p>2043-44</p></td></tr><tr><td><p>£530bn</p></td><td><p>£570bn</p></td><td><p>£600bn</p></td><td><p>£640bn</p></td><td><p>£670bn</p></td><td><p>£710bn</p></td><td><p>£750bn</p></td><td><p>£790bn</p></td><td><p>£830bn</p></td><td><p>£870bn</p></td></tr><tr><td><p>2044-45</p></td><td><p>2045-46</p></td><td><p>2046-47</p></td><td><p>2047-48</p></td><td><p>2048-49</p></td><td><p>2049-50</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>£920bn</p></td><td><p>£960bn</p></td><td><p>£1,000bn</p></td><td><p>£1,030bn</p></td><td><p>£1,070bn</p></td><td><p>£1,100bn</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>These estimates assume that fees will increase in line with inflation from 2016 onwards. These forecasts also take account of the freeing up of student number controls in the Autumn Statement, increases in loan take-up rates, demographic changes over time and updated earnings modelling.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p>(b) The government has a stated aim to sell the pre-2012 loan book. However, the exact programme of sales has yet to be determined. Consequently, it is not possible to estimate the yearly value of the student loan book after these sales have taken place.</p><p> </p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p>
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-18T15:43:46.4822416Zmore like thismore than 2014-06-18T15:43:46.4822416Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1171
star this property label Biography information for Liam Byrne more like this
61404
unstar this property registered interest false more like this
star this property date less than 2014-06-11more like thismore than 2014-06-11
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what recent estimate his Department has made of the RAB charge for student loans issued after 2012. more like this
star this property tabling member constituency Birmingham, Hodge Hill more like this
star this property tabling member printed
Mr Liam Byrne more like this
star this property uin 200292 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-18more like thismore than 2014-06-18
star this property answer text <p>We estimate the RAB charge on these loans to be around 45%.</p><p>The actual cost of issuing student loans will be dependent on future macro-economic circumstances, in particular earnings and we will continue to update our forecasts on a regular basis to take account of changes to short term and long term macro-economic assumptions.</p> more like this
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-18T15:20:49.045659Zmore like thismore than 2014-06-18T15:20:49.045659Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1171
star this property label Biography information for Liam Byrne more like this
61409
unstar this property registered interest false more like this
star this property date less than 2014-06-11more like thismore than 2014-06-11
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what projections his Department has made of the future (a) face value and (b) carrying value of the student loan book. more like this
star this property tabling member constituency Birmingham, Hodge Hill more like this
star this property tabling member printed
Mr Liam Byrne more like this
star this property uin 200294 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-18more like thismore than 2014-06-18
star this property answer text <p>(a) We estimate the cash, or face, value of ICR student loans to follow approximately this profile going forwards.</p><p>Value of loan book in real terms</p><table><tbody><tr><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td><td><p>2022-23</p></td><td><p>2023-24</p></td></tr><tr><td><p>£70bn</p></td><td><p>£80bn</p></td><td><p>£90bn</p></td><td><p>£100bn</p></td><td><p>£110bn</p></td><td><p>£120bn</p></td><td><p>£130bn</p></td><td><p>£140bn</p></td><td><p>£150bn</p></td><td><p>£160bn</p></td></tr><tr><td><p>2024-25</p></td><td><p>2025-26</p></td><td><p>2026-27</p></td><td><p>2027-28</p></td><td><p>2028-29</p></td><td><p>2029-30</p></td><td><p>2030-31</p></td><td><p>2031-32</p></td><td><p>2032-33</p></td><td><p>2033-34</p></td></tr><tr><td><p>£170bn</p></td><td><p>£180bn</p></td><td><p>£190bn</p></td><td><p>£200bn</p></td><td><p>£210bn</p></td><td><p>£220bn</p></td><td><p>£230bn</p></td><td><p>£240bn</p></td><td><p>£250bn</p></td><td><p>£260bn</p></td></tr><tr><td><p>2034-35</p></td><td><p>2035-36</p></td><td><p>2036-37</p></td><td><p>2037-38</p></td><td><p>2038-39</p></td><td><p>2039-40</p></td><td><p>2040-41</p></td><td><p>2041-42</p></td><td><p>2042-43</p></td><td><p>2043-44</p></td></tr><tr><td><p>£260bn</p></td><td><p>£270bn</p></td><td><p>£280bn</p></td><td><p>£280bn</p></td><td><p>£290bn</p></td><td><p>£300bn</p></td><td><p>£300bn</p></td><td><p>£310bn</p></td><td><p>£320bn</p></td><td><p>£320bn</p></td></tr><tr><td><p>2044-45</p></td><td><p>2045-46</p></td><td><p>2046-47</p></td><td><p>2047-48</p></td><td><p>2048-49</p></td><td><p>2049-50</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p>£330bn</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr></tbody></table><p>Value of loan book in nominal terms</p><table><tbody><tr><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td><td><p>2019-20</p></td><td><p>2020-21</p></td><td><p>2021-22</p></td><td><p>2022-23</p></td><td><p>2023-24</p></td></tr><tr><td><p>£70bn</p></td><td><p>£80bn</p></td><td><p>£100bn</p></td><td><p>£110bn</p></td><td><p>£130bn</p></td><td><p>£150bn</p></td><td><p>£170bn</p></td><td><p>£190bn</p></td><td><p>£210bn</p></td><td><p>£230bn</p></td></tr><tr><td><p>2024-25</p></td><td><p>2025-26</p></td><td><p>2026-27</p></td><td><p>2027-28</p></td><td><p>2028-29</p></td><td><p>2029-30</p></td><td><p>2030-31</p></td><td><p>2031-32</p></td><td><p>2032-33</p></td><td><p>2033-34</p></td></tr><tr><td><p>£250bn</p></td><td><p>£270bn</p></td><td><p>£300bn</p></td><td><p>£320bn</p></td><td><p>£350bn</p></td><td><p>£380bn</p></td><td><p>£410bn</p></td><td><p>£440bn</p></td><td><p>£470bn</p></td><td><p>£500bn</p></td></tr><tr><td><p>2034-35</p></td><td><p>2035-36</p></td><td><p>2036-37</p></td><td><p>2037-38</p></td><td><p>2038-39</p></td><td><p>2039-40</p></td><td><p>2040-41</p></td><td><p>2041-42</p></td><td><p>2042-43</p></td><td><p>2043-44</p></td></tr><tr><td><p>£530bn</p></td><td><p>£570bn</p></td><td><p>£600bn</p></td><td><p>£640bn</p></td><td><p>£670bn</p></td><td><p>£710bn</p></td><td><p>£750bn</p></td><td><p>£790bn</p></td><td><p>£830bn</p></td><td><p>£870bn</p></td></tr><tr><td><p>2044-45</p></td><td><p>2045-46</p></td><td><p>2046-47</p></td><td><p>2047-48</p></td><td><p>2048-49</p></td><td><p>2049-50</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr><tr><td><p>£920bn</p></td><td><p>£960bn</p></td><td><p>£1,000bn</p></td><td><p>£1,030bn</p></td><td><p>£1,070bn</p></td><td><p>£1,100bn</p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td><td><p> </p></td></tr></tbody></table><p>These estimates assume that fees will increase in line with inflation from 2016 onwards. These forecasts also take account of the freeing up of student number controls in the Autumn Statement, increases in loan take-up rates, demographic changes over time and updated earnings modelling.</p><p>(b) We estimate the current carrying value of the student loan book, which is used in the BIS accounts. However, we do not forecast the future carrying value of the loan book, as this is not required for the purposes of accounting or budgeting. Our estimate of the carrying value for loans when they are issued is based on the RAB charge, which we currently estimate is around 45%.</p>
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-18T15:34:15.9635608Zmore like thismore than 2014-06-18T15:34:15.9635608Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1171
star this property label Biography information for Liam Byrne more like this
61514
unstar this property registered interest false more like this
star this property date less than 2014-06-11more like thismore than 2014-06-11
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government why the Student Loans Company does not provide up-to-date online information about the state of an account, detailing all repayments made into the account via the PAYE system since the last statement was issued. more like this
star this property tabling member printed
Baroness Sharp of Guildford more like this
star this property uin HL292 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-24more like thismore than 2014-06-24
star this property answer text <p> </p><p>HMRC collates employer information on student loan deductions at the end of each tax year and provides this information in P14 “end of year summaries” to the SLC. The SLC calculate interest and statements are issued to borrowers, advising them of their deductions, interest and outstanding balance at the end of the tax year. This process is repeated annually until all student loan repayments are collected.</p><p> </p><p>The repayment information held by the SLC will, as a result of this system, be accurate to the April of the previous tax year. The SLC is not in a position to provide an accurate settlement of a borrower's balance more recently than the previous April. However, the borrower can track and monitor their own settlement balance online if they retain a note of all their repayment deductions made over the tax year.</p><p> </p><p>HMRC, BIS and SLC are currently discussing arrangements to share student loan repayment information more quickly, but there is no mechanism to do so in the current tax system and necessary changes will take some time to implement.</p><p> </p><p> </p><p> </p>
star this property answering member printed Viscount Younger of Leckie more like this
star this property question first answered
less than 2014-06-24T16:20:36.0338244Zmore like thismore than 2014-06-24T16:20:36.0338244Z
star this property answering member
4169
star this property label Biography information for Viscount Younger of Leckie more like this
star this property tabling member
2113
star this property label Biography information for Baroness Sharp of Guildford more like this
61515
unstar this property registered interest false more like this
star this property date less than 2014-06-11more like thismore than 2014-06-11
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government why the Student Loans Company and HM Revenue and Customs joint accounting system is able to continue deducting repayments on loans via the PAYE system even when repayment has been completed; and why in such circumstances it is necessary for the individual customer to alert them to the situation and to reclaim overpayment. more like this
star this property tabling member printed
Baroness Sharp of Guildford more like this
star this property uin HL293 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-24more like thismore than 2014-06-24
star this property answer text <p> </p><p>It is possible for borrowers with Income Contingent Repayment (ICR) loans nearing the end of their repayment term to over-repay their loans because there is a time lag between the deductions from borrowers pay (by employers), HMRC's annual process for student loan repayment accounting and the student loans Company (SLC) subsequently receiving payment information from HMRC. As a consequence it is possible for people to over repay before the SLC becomes aware that their repayments should stop.</p><p> </p><p>Because of this, SLC notifies borrowers in the final 23 months of repayment that they may opt out of the PAYE system and complete their loan repayments by Direct Debit (DD). This would ensure they do not over repay their loan. If borrowers choose not take up DD repayment it is likely that they will over repay. Borrowers are advised to monitor their own repayments. If they can demonstrate to SLC that they have paid enough by providing evidence, such as payslips, SLC can then ask HMRC to issue a &quot;stop&quot; notice to employers and refund any over repayments at the earliest opportunity.</p><p> </p><p> </p><p>The SLC provides guidance and tools to help borrowers calculate their loan balance and when they are likely to repay their loan in full. The SLC refunds all over repayments to borrowers' bank accounts.</p><p> </p><p> </p><p> </p>
star this property answering member printed Lord Ahmad of Wimbledon more like this
star this property question first answered
less than 2014-06-24T15:16:22.495855Zmore like thismore than 2014-06-24T15:16:22.495855Z
star this property answering member
4210
star this property label Biography information for Lord Ahmad of Wimbledon more like this
star this property tabling member
2113
star this property label Biography information for Baroness Sharp of Guildford more like this
62828
unstar this property registered interest false more like this
star this property date less than 2014-06-19more like thismore than 2014-06-19
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, what his latest estimate is of the RAB charge for (a) student loans after 2012, (b) loans issued to part-time students, (c) loans issued to students in the Affiliated Loan Programme for Students, (d) Advanced-Learner Loans and (e) loans issued to non-English EU students. more like this
star this property tabling member constituency Birmingham, Hodge Hill more like this
star this property tabling member printed
Mr Liam Byrne more like this
star this property uin 201551 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-06-26more like thismore than 2014-06-26
star this property answer text <p>We estimate the RAB charge on student loans issued after 2012 to be around 45%. We estimate the RAB charge for loans issued to part-time students to be around 65%.</p><p>We do not estimate a separate RAB charge for students at Alternative Providers.</p><p>The 2012 impact assessment on the introduction of 24+ Advanced Learning Loans stated that we anticipated this RAB charge would be 60% of the total loan amount. Now that we are beginning to receive figures on actual learner numbers, we are reviewing the assumptions within the RAB charge model. An updated estimate of the RAB charge on 24+ Advanced Loans will be published in July 2014 in the BIS Accounts.</p><p>We do not estimate a separate RAB charge for non-English EU students.</p><p>The actual cost of issuing student loans will be dependent on future macro-economic circumstances, in particular earnings and we will continue to update our forecasts on a regular basis to take account of changes to short term and long term macro-economic assumptions.</p>
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-06-26T16:22:22.0714804Zmore like thismore than 2014-06-26T16:22:22.0714804Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1171
star this property label Biography information for Liam Byrne more like this
64647
unstar this property registered interest false more like this
star this property date less than 2014-06-30more like thismore than 2014-06-30
star this property answering body
Department for Business, Innovation and Skills more like this
star this property answering dept id 26 more like this
star this property answering dept short name Business, Innovation and Skills more like this
star this property answering dept sort name Business, Innovation and Skills more like this
star this property hansard heading Students: Loans remove filter
unstar this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Business, Innovation and Skills, how often his Department calculates the RAB charge on student loans. more like this
star this property tabling member constituency Birmingham, Hodge Hill more like this
star this property tabling member printed
Mr Liam Byrne more like this
star this property uin 203052 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2014-07-07more like thismore than 2014-07-07
star this property answer text <p>The RAB charge on student loans is updated when the Office for Budget Responsibility updates its macro economic forecasts, which normally happens two or three times a year. Another update happens annually, when the Student Loans Company provides the Department with updated loans data.</p> more like this
star this property answering member constituency Havant more like this
star this property answering member printed Mr David Willetts more like this
star this property question first answered
less than 2014-07-07T15:42:59.2661441Zmore like thismore than 2014-07-07T15:42:59.2661441Z
star this property answering member
53
star this property label Biography information for Lord Willetts more like this
star this property tabling member
1171
star this property label Biography information for Liam Byrne more like this