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answer › question first answered	2020-06-08T13:53:01.763Z
answering dept id	14
tabling member constituency	Plymouth, Sutton and Devonport

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registered interest

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answering body

answering dept id

answering dept short name

answering dept sort name

hansard heading

house id

legislature


pref label

question text

tabling member constituency

tabling member printed

uin

answer

is ministerial correction

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and

answer text

answering member constituency

answering member printed

question first answered

answering member


label

tabling member


label

1198254

registered interest

date

01/06/2020

answering body

Treasury

answering dept id

answering dept short name

Treasury

answering dept sort name

Treasury

hansard heading

Students: Loans

house id

legislature

25259

	pref label	House of Commons

question text

To ask the Chancellor of the Exchequer, with reference to the covid-19 outbreak and the Bank of England’s reduction in interest rates, what plans he has to reduce the interest rates applied to Plan 2 Income Contingent Repayment student loans.

tabling member constituency

Plymouth, Sutton and Devonport

tabling member printed

Luke Pollard

uin

52466

answer

is ministerial correction

date of answer

08/06/2020

answer text

The system for setting interest rates on student loans is set out in The Education (Student Loans) (Repayment) Regulations 2009, as amended. Student loans have much more favourable terms than commercial loans and the Government regularly monitors the interest rates set on student loans against the interest rates prevailing on the market. The most appropriate comparators for undergraduate student loans are the effective interest rates available on unsecured personal loans, as published by the Bank of England (data series CFMBJ77 and CFMBJ94). We continue to monitor Covid-19 impacts on students and work to understand the issues they face.

answering member constituency

North East Cambridgeshire

answering member printed

Steve Barclay

question first answered

08/06/2020 13:53:01

answering member

4095

	label	Biography information for Steve Barclay

tabling member

4682

	label	Biography information for Luke Pollard