Student Loan Interest Payments 2022-05-23
2022-05-23
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The question arises from concerns about the impact of rising interest rates on student loans.
What steps his Department is taking to limit student loan interest payments. No one's monthly repayment will increase due to higher interest rates, which is an important point to make when people's budgets are tight.
Monthly student loan repayments are based on income, not interest rates, meaning that no one will see their monthly repayment increase due to interest rates. From September, we have reformed the student loan system so that new borrowers will not repay more in real terms than they originally borrowed—that is fair.
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Assessment & feedback
While addressing the current repayment structure, the answer does not provide specific steps or commitments to limit rising interest rates.
Response accuracy
Q2
Partial Answer
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Context
The level of student loan interest rates is of great importance to students and their parents, particularly in the new city of Wrexham.
Will my right hon. Friend provide further detail on how we can apply a sustainable downward pressure to student loan interest rates in future? The level of student loan interest rates is of great importance to students and their parents in my constituency.
That is an important question, and I fully recognise the concerns of students and their parents about increasing interest rates. I am looking actively at how we can mitigate that, and we will be setting it out shortly. No one's monthly repayment will increase due to higher interest rates.
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Assessment & feedback
The answer acknowledges concerns but does not provide specific measures or commitments for reducing future student loan interest rates sustainably.
Response accuracy