To ask the Secretary of State for Education, if she will make it her policy to increase the (a) student loan and (b) postgraduate loan repayment thresholds in line with (i) inflation and (ii) the national living wage.
Answered on
19 February 2024
As education, including higher education and student finance, is a devolved matter, this department is responsible for student finance in England only.
The student finance and funding system must provide value for money for all of society at a time of rising costs. It is important that a sustainable student finance system is in place, that is fair to students and fair to taxpayers.
The department has frozen maximum tuition fees for the 2023/24 and 2024/25 academic years. By the 2024/25 academic year, maximum fees will have been frozen for seven successive years.
The mechanism for setting repayment thresholds for student loans is set out and governed by the Education (Student Loans) (Repayment) Regulations 2009 (as amended). This includes provision for annual adjustments, where applicable.
The department will continue to keep the terms of the student finance system under review to ensure that they keep delivering value for money for both students and taxpayers.