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1059873

registered interest
date	12/02/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, how many loans have been issued by the Office for Students to higher education institutions in England; and what the value was of each of those loans.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	220253
answer	answer is ministerial correction date of answer 18/02/2019 answer text <p>The Office for Students has issued one short term loan (£900,000) to one higher education provider, which has been repaid in full.</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 18/02/2019 13:43:13 answering member 4021 label Biography information for Chris Skidmore
tabling member	4356 label Biography information for Angela Rayner

1059874

registered interest
date	12/02/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, with reference to the announcement entitled, New treatment of student loans in the public sector finances and national accounts, published by the Office for National Statistics (ONS) in December 2018, when his Department plans to adapt their accounting practices in line the ONS decision.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	220254
answer	answer is ministerial correction date of answer 18/02/2019 answer text <p>The Office for National Statistics (ONS) announcement is a statistical change, therefore, there are no changes to the existing policy, operation of the student loans system and Departmental Accounts. While the ONS have announced the decision to change the treatment of student loans in the national accounts, the department’s accounting practices will continue to be consistent with the International Financial Reporting Standards, as adapted by the Government Financial Reporting Manual. During the course of 2019, the department will assist the ONS to report the statistical change in line with any new guidance issued as part of the Government Debt and Deficit manual<strong>.</strong></p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 18/02/2019 17:21:47 answering member 4021 label Biography information for Chris Skidmore
tabling member	4356 label Biography information for Angela Rayner

1052332

registered interest
date	31/01/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what recent estimate he has made of the proportion of students repaying student loan as a result of earning a salary above the threshold for non-payment.
tabling member constituency	Cardiff West
tabling member printed	Kevin Brennan
uin	215112
answer	answer is ministerial correction date of answer 05/02/2019 answer text <p>Estimates of the proportion of students repaying student loans, earning a salary above the threshold for non-payment are available in Table 6 of the Student loan forecasts, England: 2017 to 2018, which can be accessed here:</p><p><a href="https://www.gov.uk/government/statistics/student-loan-forecasts-england-2017-to-2018" target="_blank">https://www.gov.uk/government/statistics/student-loan-forecasts-england-2017-to-2018</a></p><p> </p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 05/02/2019 14:35:05 answering member 4021 label Biography information for Chris Skidmore
tabling member	1400 label Biography information for Kevin Brennan

1052335

registered interest
date	31/01/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what recent estimate he has made of the cost of abolishing interest rates on student loans.
tabling member constituency	Cardiff West
tabling member printed	Kevin Brennan
uin	215113
answer	answer is ministerial correction date of answer 05/02/2019 answer text <p>The information requested is not held centrally.</p><p> </p><p>Departmental estimates of changes to the interest rates on student loans are available in Table 7 of the Student loan forecasts, England: 2017 to 2018, which can be accessed here:</p><p><a href="https://emea01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fstatistics%2Fstudent-loan-forecasts-england-2017-to-2018&amp;data=02%7C01%7Cmpst.skidmore%40beis.gov.uk%7C0741d2ef8b724d8dba0f08d68b7bd5d0%7Ccbac700502c143ebb497e6492d1b2dd8%7C0%7C0%7C636849761314800895&amp;sdata=mtf4VyWkeSLsozqDRtwTUNQkK4DyXCjFUPJUx5dcpdA%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/statistics/student-loan-forecasts-england-2017-to-2018</a>.</p><p> </p><p>The government is conducting a major review of Post-18 Education and Funding which aims to ensure we have a joined up system that is accessible to all and provides value for money for both students and taxpayers. It will consider how students and graduates contribute to the cost of their studies including the level, terms and duration of their contribution, while maintaining the link that those who benefit from post-18 education contribute to its costs.</p><p> </p> answering member constituency Kingswood answering member printed Chris Skidmore grouped question UIN 215114 question first answered 05/02/2019 17:48:02 answering member 4021 label Biography information for Chris Skidmore
tabling member	1400 label Biography information for Kevin Brennan

1052339

registered interest
date	31/01/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, what estimate he has made of the cost to the public purse if interest rates on student loans were to be charged at Bank of England base rate.
tabling member constituency	Cardiff West
tabling member printed	Kevin Brennan
uin	215114
answer	answer is ministerial correction date of answer 05/02/2019 answer text <p>The information requested is not held centrally.</p><p> </p><p>Departmental estimates of changes to the interest rates on student loans are available in Table 7 of the Student loan forecasts, England: 2017 to 2018, which can be accessed here:</p><p><a href="https://emea01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fstatistics%2Fstudent-loan-forecasts-england-2017-to-2018&amp;data=02%7C01%7Cmpst.skidmore%40beis.gov.uk%7C0741d2ef8b724d8dba0f08d68b7bd5d0%7Ccbac700502c143ebb497e6492d1b2dd8%7C0%7C0%7C636849761314800895&amp;sdata=mtf4VyWkeSLsozqDRtwTUNQkK4DyXCjFUPJUx5dcpdA%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/statistics/student-loan-forecasts-england-2017-to-2018</a>.</p><p> </p><p>The government is conducting a major review of Post-18 Education and Funding which aims to ensure we have a joined up system that is accessible to all and provides value for money for both students and taxpayers. It will consider how students and graduates contribute to the cost of their studies including the level, terms and duration of their contribution, while maintaining the link that those who benefit from post-18 education contribute to its costs.</p><p> </p> answering member constituency Kingswood answering member printed Chris Skidmore grouped question UIN 215113 question first answered 05/02/2019 17:48:02 answering member 4021 label Biography information for Chris Skidmore
tabling member	1400 label Biography information for Kevin Brennan

1041463

registered interest
date	14/01/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, how much money was paid back from student loan repayments in each of the last three years.
tabling member constituency	Upper Bann
tabling member printed	David Simpson
uin	208282
answer	answer is ministerial correction date of answer 17/01/2019 answer text <p>Statistics covering student loans, debt and repayment are published annually by the Student Loans Company. Separate statistics are published for each administration. Information on repayments by financial year can be found in table 1 of each of the publications available below:</p><p><a href="https://www.slc.co.uk/official-statistics/student-loans-debt-and-repayment.aspx" target="_blank">https://www.slc.co.uk/official-statistics/student-loans-debt-and-repayment.aspx</a>.</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 17/01/2019 18:25:02 answering member 4021 label Biography information for Chris Skidmore
tabling member	1597 label Biography information for David Simpson

1027709

registered interest
date	18/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the amount by which the deficit will increase in 2018 as a result of the ONS decision on the treatment of student loans in Government accounts.
tabling member constituency	Ilford North
tabling member printed	Wes Streeting
uin	203421
answer	answer is ministerial correction date of answer 07/01/2019 answer text <p>The Office for Budget Responsibility (OBR) published estimates of potential impacts of the new treatment on the deficit in their October 2018 Economic and fiscal outlook, which is available here: https://obr.uk/box/accounting-for-student-loans/</p><p> </p><p>However, the Office for National Statistics (ONS) has made it clear that there is a lot to decide before their methodology is finalised. The ONS currently aim to fully implement the new treatment for student loans in the public sector finances in September 2019.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 07/01/2019 14:23:44 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4504 label Biography information for Wes Streeting

1027711

registered interest
date	18/12/2018
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, if he will ensure that the level of funding allocated to universities is not reduced as a result of the ONS decision on the treatment of student loans in Government accounts.
tabling member constituency	Ilford North
tabling member printed	Wes Streeting
uin	203423
answer	answer is ministerial correction date of answer 07/01/2019 answer text <p>The Office for National Statistics (ONS) announced a new treatment of student loans in the public sector finances and national accounts on 17 December 2018. The decision by the ONS relates to the recording of student loans in the national accounts and public sector finances. Prior to the announcement of the ONS review, the government had already launched the Review of Post-18 Education and Funding in which, amongst other features of the system, funding is being considered.</p><p> </p><p>The review is considering how to ensure that the education system for those aged 18 years and over is accessible to all, is supported by a funding system that provides value for money and works for students and taxpayers. In addition, the review is considering how the education system incentivises choice and competition across the sector and encourages the development of the skills that we need as a country.</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 07/01/2019 15:17:34 answering member 4021 label Biography information for Chris Skidmore
tabling member	4504 label Biography information for Wes Streeting

1020407

registered interest
date	05/12/2018
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, further to his Written Statement of 4 December 2018 on Government Asset Sale Update, HCWS1137, what the carrying value was that his Department had placed on the loans sold for £1.9 billion.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	199417
answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>The final carrying value of the loans sold in December 2018 is subject to reconciliation and auditing and will be provided in the Department for Education’s 2018-19 annual report and accounts.</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 11/12/2018 13:14:16 answering member 4021 label Biography information for Chris Skidmore previous answer version 91054 answering member constituency Kingswood answering member printed Chris Skidmore answering member 4021 label Biography information for Chris Skidmore
tabling member	4356 label Biography information for Angela Rayner

1020409

registered interest
date	05/12/2018
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Students: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Education, further to his written ministerial statement HCWS1137 Government Asset Sale Update, published 4th December 2018, what assessment his Department has made of the total loss in future receipts in repayments from the student loans that were sold for £1.9 billion.
tabling member constituency	Ashton-under-Lyne
tabling member printed	Angela Rayner
uin	199418
answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>​​Through the sale, the government has exchanged a stream of uncertain future cash flows spread over thirty years for a certain lump sum now. When assessing whether or not to sell the loans, the government therefore has to determine today’s value of those future cash flows to be able to compare it against the price being offered by the market. To make this assessment, the government forecasts the repayments and then takes into account: the time value of money, the effect of inflation, the riskiness of the asset, and the opportunity cost of having money tied up in that asset that could otherwise be used for purposes or policies with greater social or economic returns. This follows the guidance set out in Her Majesty’s Treasury’s (HM Treasury) Green Book:</p><p> </p><p><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/191488/Green_book_supplementary_guidance_asset_valuation.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/191488/Green_book_supplementary_guidance_asset_valuation.pdf</a>.</p><p> </p><p>​In accordance with this assessment, the government has concluded that the sale achieved value for money in accordance with HM Treasury’s Green Book guidance.</p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 11/12/2018 13:18:43 answering member 4021 label Biography information for Chris Skidmore previous answer version 91059 answering member constituency Kingswood answering member printed Chris Skidmore answering member 4021 label Biography information for Chris Skidmore
tabling member	4356 label Biography information for Angela Rayner