Post-18 Education

Part of the debate – in the House of Commons at 5:43 pm on 20th February 2018.

Alert me about debates like this

Photo of Damian Hinds Damian Hinds The Secretary of State for Education 5:43 pm, 20th February 2018

The interest rate, to which I think my right hon. Friend is referring, is currently 6.1%, but it varies with inflation. Critically, it means that those who earn more in their 20s and 30s will pay more—[Interruption.] It applies throughout the study period, as Mike Kane should know. Thereafter, the rate varies depending on earnings. It does serve an important purpose, but it cannot be considered in isolation from all the other aspects of the system.