§ Mr. EdwardsTo ask the Secretary of State for Education and Skills how many individuals repaid student loans early in the last year for which figures are available. [19913]
§ Margaret HodgeIn the 2000–01 financial year, there were 1,600 borrowers with accounts paid off in full before liability for repayment had arisen. This figure does not include borrowers who have made accelerated repayments nor borrowers who have made repayments even though their obligation to repay has been deferred because their income has fallen below the repayment threshold.
§ Mr. EdwardsTo ask the Secretary of State for Education and Skills what guidance is issued to the Student Loans Company Ltd. to enable individuals to make early repayments of a student loan. [19914]
§ Margaret HodgeThe Student Loans Company Ltd. (SLC) operates under the terms of a remit letter, which I send to it annually. This requires the company to administer the student loans schemes in line with the legislative framework.
Provisions for the early repayment of mortgage style loans are covered under schedule 2 of the Education (Student Loans) Regulations 1998, which state that the borrower can make early repayments at any time, and that he should ask the SLC for a written statement giving the exact amount owed. A borrower can repay all or any part of their income contingent student loans at any time under Education (Student Loans) Regulations 2000, regulation 11 (1). The Student Loans Company Ltd. makes arrangements directly with the borrower for the method of repayment.
§ Mr. EdwardsTo ask the Secretary of State for Education and Skills how many individuals are repaying student loans in Wales. [19915]
§ Margaret HodgeInformation broken down by home country of domicile is not held centrally but we are asking the Student Loans Company Ltd. to write to my hon. Friend further on this.