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Students: Finance

Volume 474: debated on Tuesday 1 April 2008

To ask the Secretary of State for Innovation, Universities and Skills what the variable threshold bands are for EU graduates who move abroad and who owe money to the Student Loans Company. (191164)

We have put in place variable threshold bands to provide a fair system to enable graduates who move abroad to contribute to the costs of their education. The bands are dependent on where the borrower lives and take account of differences in living costs.

The following table shows what the thresholds are for 2008-09 in other European countries as well as some other common destinations after graduation. The thresholds are updated each year to take account of price changes. This table is reproduced in the annual ‘Student Loans: A Guide to Terms and Conditions’ booklet and full details can be found at:

http://www.slc.co.uk/thresholds/index.html

Band

Price level index (UK=100)

Repayment threshold (UK=£15,000)

Countries using the latest available price level index figures

A

Less than 30

3,000

Currently does not apply to any countries but may change depending on price changes compared to the UK

B

More then 30 but less than 50

6,000

Bulgaria, Macedonia, Romania, Lithuania, Latvia

C

More than 50 but less than 70

9,000

Poland, Slovakia, Turkey, Czech Republic, Estonia, Croatia, Hungary, Malta, Slovenia

D

More than 70 but less than 90

12,000

Portugal .Greece, Spain, Cyprus, USA

E

More than 90 but less than110

15,000

Italy, Belgium, Austria, Germany, Netherlands, France, Luxemburg, Finland, Sweden, Japan

F

More than 110 but less than 130

18,000

Ireland, Switzerland, Norway, Iceland

G

130 or more

21,000

Currently does not apply to any countries but may change depending on price changes compared to the UK