You are here: Home - Credit Cards & Loans - News -

MPs launch review of student loans

0
Written by:
14/10/2017
The Treasury Committee, chaired by former education secretary Nicky Morgan, is to launch an inquiry into the student loan system.

The Committee will scrutinise recent changes to the student loan system, including the repayment threshold, interest rates, tuition fees, and the impact on university finances.

It will also examine the impact of higher education on the public finances, the feasibility of a so-called ‘graduate tax’, and the effectiveness of the government’s management of the student loan book.

The first evidence session of this inquiry will be heard on Wednesday (18 October) with Dr Helen Carasso and Dr Andrew McGettigan, who have written extensively about student loans. This session will focus on the impact of student loans on the public finances, the success or failure of fee funding, and the impact of student finances on students.

Morgan said: “The Treasury Committee is appointed to examine government expenditure. Student loan debt is projected to be around £160bn within six years, and the government has announced it will review the whole student finance system. The Committee will scrutinise the current system and any future developments closely.”

Prime Minister Theresa May announced a freeze on tuition fees at £9,250 a year in her speech at the Conservative Party conference. She also raised the level of earnings at which student loans begin to be paid back. At the same time she said a review would consider more radical changes, such as lowering fees, cutting the interest rate on student debt and even bringing back maintenance grants.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Over-55s credit card debt reaches six-year high

Credit card debt among those aged 55 and over has reached a six year high of £1,052, up 9% from...

Close