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Students: Finance

Business, Innovation and Skills written question – answered on 29th November 2011.

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Photo of Shabana Mahmood Shabana Mahmood Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills what modelling his Department has undertaken on the cost of access to higher education loans; and if he will publish any such modelling.

Photo of John Hayes John Hayes The Minister for Universities and Science, The Minister of State, Department for Business, Innovation and Skills

The Government will make available £129 million in the 2013-14 financial year and £398 million in the 2014-15 financial year to support a system of further education (FE) loans for adults aged 24 or over studying at level 3 or higher. This includes those FE learners who are studying Access to HE qualifications, who will be able to access loans alongside other learners.

The costs and benefits of FE loans as a whole has been modelled in an impact assessment published alongside the New Challenges, New Chances consultation on FE loans. The impact assessment can be found on the BIS website on the following link:

http://www.bis.gov.uk/assets/biscore/further-education-skills/docs/f/11-1218-further-education-loans-impact-assessment

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