(2) what measures are in place for HM Revenue and Customs to notify the Student Loans Company of full repayment of a student loan;
(3) how long on average HM Revenue and Customs took to inform the Student Loans Company that a graduate had paid back the full amount of a student loan in the latest period for which figures are available; and if he will make a statement.
HM Revenue and Customs collects student loan repayments through the tax system, and passes on repayment information to the Student Loans Company (SLC). SLC is responsible for maintaining and updating borrower loan accounts, and informs HMRC when collection should begin and end. HMRC does not hold any information on borrowers’ outstanding balances, and is not able to tell when a loan has been fully repaid.