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Students: Loans

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 proportion of further education student loans for access to education he expects to be repaid in full after 2013-14.

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

The Impact Assessment published alongside the New Challenges, New Chances consultation on further education loans included an assumption that 40% of the value of loans taken out will be repaid. This applies to all loans taken out from the academic year 2013/14 onwards, for all types of course. There is however no information available specifically for the subset of further education (FE) learners who are taking Access to Higher Education (HE) qualifications. The Department for Business, Innovation and Skills is carrying out further research and analysis to improve the accuracy of the simulation model used to calculate the figure above.

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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