Plan 2 Student Loans: Repayment Terms

Baroness McIntosh of Hudnall Excerpts

Tuesday 17th March 2026 Lords Chamber

[Baroness Blake of Leeds (Lab)]

The noble Lord refers to a complex situation, and it would be completely wrong of me to make any suggestion about changing interest rates or methods of repayment. But of course, all these matters are under consideration in such an important subject.

[Baroness McIntosh of Hudnall (Lab)]

My Lords, does my noble friend agree that is quite difficult to determine the value of certain kinds of degree course if the only measure used is what you can earn after you have completed them? Would she further agree that there are some sectors which are extremely important to the health of our economy and our general well-being, such as the arts and the cultural sector, in which it is pretty difficult to earn very high salaries, but the value of the people who are in those sectors is worth appreciating just as much?

[Baroness Blake of Leeds (Lab)]

I absolutely support my noble friend’s view of the value of a university education; it cannot always be measured in monetary success. But obviously, the outcomes of students going to different institutions is a measure that is looked at—how many of them get into employment, what that employment is and whether they go on to further training. It is true that there are some narrowly held preconceived views about the value of some courses that actually do an enormous amount, not only for the well-being of the students but for the economy and well-being of the country.