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Students: Loans

Question for Department for Education

UIN 92098, tabled on 13 December 2021

To ask the Secretary of State for Education, what the evidential basis is to set the eligibility for student loans below 60 years old for students undertaking a master’s degree; and what assessment he has made of the effect of setting the eligibility of student loans for master’s degrees above 60 on (a) older people seeking to pursue their further education and (b) those retraining later in their careers.

Answered on

5 January 2022

In settling on the current postgraduate master’s loan eligibility criteria, the department consulted widely on the proposed terms of the new loan and considered its duty under the Equality Act 2010.

The upper age limit of 60 years old was put in place to ensure that the overall scheme remains affordable to the taxpayer and offers value for money. The age limit is also designed to restrict eligibility to those statistically most likely to continue in long-term employment and be able to repay the loan.

The department is closely monitoring take up of the loan and the response by students, the sector and employers. However, at present there are no plans to amend the loan eligibility criteria.

Named day
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