§ Baroness Sharp of Guildfordasked Her Majesty's Government:
What estimates they have made of the annual cost of servicing the total outstanding debt on the income-contingent student loan scheme in each of the three years after the proposed introduction of increased tuition fees; and how such estimates are derived [HL5075]
§ The Parliamentary Under-Secretary of State, Department for Education and Skills (Baroness Ashton of Upholland)The annual cost to government of income-contingent student loans in the first three years after the introduction of variable fees will depend on the following factors: the number of students entering higher education institutions (HEIs) in those three years; the level of fees charged by each HEI; and the proportion of students who choose to take out loans to cover the cost of their fees, and the value of such loans. Further details will be available in the regulatory impact assessment which will be published shortly.