B

Baroness Smith of Malvern (Lab)

Speaking in the House of Lords on 13 November 2024

Debate

Sharia-compliant Student Finance

Contribution

I am not sure whether the noble Lord is arguing for a wholesale reform of the student funding system—it would be legitimate if he were, although this Government have taken a different route at this point. I think it is important, notwithstanding the impact on the national finances, to be clear for individual students that an increase in their tuition fees and the loan they take out to fund them will not increase their repayments, because repayments of this loan are wholly linked to earnings levels, so no student will repay higher levels per month as a result of the most recent decision that the Government have taken to increase tuition fees.

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