Gordon Marsden – 2015 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Gordon Marsden on 2015-11-04.

To ask the Secretary of State for Business, Innovation and Skills, what plans he has to apply the freeze of the student loan repayment threshold on which his Department has recently consulted to the repayment of 24+ Advanced Learner Loans.

Nick Boles

As set out in the consultation, because both higher education student loans and 24+ Advanced Learning Loans share a repayment threshold, the change will equally affect both groups of learners.

The Spending Review announced that the Government has decided to implement a repayment threshold freeze for all borrowers with post-2012 (‘Plan 2’) loans. The repayment threshold will be £21,000 at April 2016, and it will not be uplifted until at least April 2021, when the threshold will be reviewed. This threshold remains higher in real terms than that of the loans taken out before 2012.