§ Baroness Sharp of Guildfordasked Her Majesty's Government:
What is the current total of outstanding loans under the income-contingent student loan scheme. [HL5072]
§ Baroness Ashton of UphollandThe total amount of income-contingent loans outstanding at the end of financial year 2001–02 in the United Kingdom was £5.909.9 million. This includes loans not yet due for82WA repayment. The fixed rate loans of £500 to part-time students are included, as well as hardship loans.
Information on student loans in financial year 2002–03 will be published during November 2003 in the Statistical First Release: Student Support: Statistics of Student Loans for Higher Education in the United Kingdom—Financial Year 2002–03 and Academic Year 2002–03.
§ Baroness Sharp of Guildfordasked Her Majesty's Government:
What estimates they have made of the increase in the total debt outstanding under the income-contingent student loan scheme in the first three years after the proposed introduction of increased tuition fees; and how such estimates are calculated. [HL5074]
§ Baroness Ashton of UphollandThe increase in the amount of student loan in the first three years after the introduction of variable fees will depend on the following factors: the numbers of students entering higher education institutions (HEIs) in (hose 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.