Loans to Students

HC Deb 23 March 1950 vol 472 c131W

92. Mr. Morley

asked the Minister of Education the name of the local education authority which charges 4¼ per cent. interest on loans to students.

Mr. Tomlinson

The Kingston-on-Hull local education authority charge interest at the rate of 4¼ per cent. on loans made to students. Loans are limited to exceptional cases which are not covered by the authority's approved scheme of grants, and the number is small. I understand that the authority propose to reduce the rate of interest to 2¼ per cent. in September next.