§ Mr. JenkinTo ask the Secretary of State for Education and Employment what plans he has to change the repayment schedules of existing student loans. [35415]
§ Dr. HowellsWe have no plans to change the repayment schedules of loans taken out under the existing scheme. The Education (Student Loans) Act 1998 which came into force on 1 March 1998 fixed the repayment terms of existing loans and they cannot unilaterally be changed by the Government or any other party involved in the administration of student loans.
The Education (Student Loans) Regulations 1998 have improved the repayment terms for some disabled borrowers who can now qualify for an extended repayment schedule or deferment period if they are in receipt of certain disability benefits.