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Student support: restricted modification of repayment terms

Part of Oral Answers to Questions — Work and Pensions – in the House of Commons at 6:30 pm on 21st November 2016.

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Photo of Wes Streeting Wes Streeting Labour, Ilford North 6:30 pm, 21st November 2016

I anticipated that the Minister would point out how permissive the terms and conditions were, which is why I suggested that student loans should be regulated by the Financial Conduct Authority. The sad truth is that I agree with him. As new clause 6 suggests, Members of both Houses should have a role in shaping the terms and conditions, but Ministers, whether in the Treasury or the Department for Education, have shown that they cannot be trusted to hold to their word. That is the indictment and that is why the amendment was tabled.