Barry Sheerman – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Barry Sheerman on 2016-01-05.

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to reduce the cost of university for students.

Joseph Johnson

All eligible students can apply for an upfront tuition fee loan to meet the costs of their tuition fees. This ensures that students are not prevented from attending their course because they cannot pay for their fees.

From 1 August 2016 onwards, students who would otherwise have received a grant will see an increase in the amount of maintenance support they can access, with those from the most disadvantaged backgrounds receiving 10.3% more in loans for living costs.

Linking repayment to a borrower’s income will ensure that deductions are based on their ability to repay. Repayments are made through the UK tax system at 9% of earnings of any income over the relevant repayment threshold and they will cease if earnings fall below the threshold. Any outstanding loan balance will be written off after thirty years.