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Students: Loans

Volume 482: debated on Wednesday 5 November 2008

To ask the Secretary of State for Innovation, Universities and Skills how many people in (a) West Chelmsford constituency and (b) the Chelmsford local authority area are repaying student loans. (233188)

Reliable information on repayments made by borrowers is not available at the level requested. The repayment of income contingent student loans begins from the April after a student graduates or leaves full-time study and earns over £15,000 a year. Repayments are made through the UK tax system either by employers through the PAYE system or through the self assessment returns at 9 per cent. of income above the threshold. Borrowers with the older mortgage style loans make repayments through agreed monthly direct debits when income is above 8 per cent. of average national average earnings (£25,936 in 2008-09).