§ Dr. HarrisTo ask the Secretary of State for Education and Employment if he will list the cost of career development loans in terms of(a) interest rate subsidies, (b) administration costs and (c) other costs; and what default rate exists. [133118]
§ Mr. WicksThe information requested is as follows:
April 1999 to March 2000 £ (a) Interest rate subsidies 15,382,173.00 (b) Administration costs 0.22 (c) Other costs2 141,260.00 1 Per trainee week 2 Other costs consist of TEC endorsement fees of £48,778 and programme support costs of £92,462. The default rate at the end of the period was 13.00 per cent.