John Redwood
Main Page: John Redwood (Conservative - Wokingham)Department Debates - View all John Redwood's debates with the Department for Education
(10 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Speaker
Order. I am conscious of the level of interest, but also of the pressure on parliamentary time. Depending on the length of questions and answers, it may or may not be possible to accommodate everybody, but we will begin with Mr John Redwood.
Mr John Redwood (Wokingham) (Con)
As we wish to spread the news to constituents, what is the typical interest rate for loans and the average duration of them?
Matthew Hancock
The interest is typically 6% and the average duration is up to five years, but those matters are of course also dependent on the proposition that is made. So far, in the year and a bit that the scheme has been going, the amount paid back has been pretty strong.