Member

I understand that some students may worry about the impact that the increase will have on their loan debt, so I want to reassure students already at university that, when they start repaying their loan, they will not see higher monthly repayments as a result of these changes to fee and maintenance loans. That is because student loans are not like consumer loans; monthly repayments depend on earnings, not simply the amount borrowed or interest rates, and at the end of any loan term, any outstanding loan balance, including interest built up, will be written off.