Sale of Student Loans Bill
11:15 am
Nadine Dorries (Mid Bedfordshire, Conservative)
Yesterday afternoon I had the pleasure of attending the graduation ceremony at Newcastle university. I notice that clause 1(4)(d) enables
“the Secretary of State to require a loan purchaser to make specified arrangements in connection with the administration of loans”.
It surprised me yesterday how many of the students, six months after graduating, had not yet found employment. The statistics show that many take up to a year to do so.
Using that provision, would it not be a good idea for the Secretary of State to instruct the loan companies to provide some kind of respite gap for new graduates, because while they are waiting to find employment, their student loan is still clocking up interest? Would it not be a good point at which to recognise that graduates are taking longer to find employment? As this sale is going through at the moment should we not put in some kind of provision to make things slightly easier for students?