§ Mr. Boswell
My right hon. Friend the Secretary of State for Education together with my right hon. Friend the Secretary of State for Scotland have laid the Education (Student Loans) Regulations 1993 before Parliament today.
The loans regulations provide for the new higher rates of loan. For the academic year beginning in September 1993 the maximum rates of loan in the United Kingdom will be as follows:
Loan rates 1993–94 Full year rate (£) Final year rate (£) Students living away from parents home: In London 940 685 Elsewhere 800 585 Students living at parents home 640 470
Apart from technical amendments, the one change to the loans scheme included in the regulations this year provides for students following two-year degree courses, and one accelerated three-year course, to claim the full-year rate of loan if their final year lasts for 40 weeks or more.