HC Deb 05 April 2001 vol 366 c276W
Mr. Willis

To ask the Secretary of State for Education and Employment, pursuant to his answer to the hon. Member for Truro and St. Austell (Mr. Taylor) of 9 February 2001,Official Report, column 764W on student loans, if he will estimate the rate of interest required to increase the net present value of student loans in 1999–2000 by £455 million. [156662]

Mr. Wicks

[holding answer 2 April 2001]: The net present value of the estimated £982 million income contingent loans issued in 1999–2000 to students domiciled in England and Wales is estimated to be £590 million. The nominal rate of interest required to increase this by £455 million is estimated to be around 10 per cent.

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