Student Loans Company Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Kevin Foster
Main Page: Kevin Foster (Conservative - Torbay)Department Debates - View all Kevin Foster's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 5 months ago)
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Joseph Johnson
The Department takes allegations of fraud and malpractice extremely seriously, and we are grateful to “Panorama” for bringing to our attention the fraud allegations it aired in relation to student loans at three private providers. Fraud devalues the work of honest providers and students. Working with stakeholders, including the City of London police, we will take robust action where abuses of the system are evident.
To put this in context, it is vital we remember that the number of ineligible payments to such providers is very low. It is about 0.5% of all payments, and that has come down sharply from 4% in 2012-13. The rate is no higher than the rate of ineligible payments across the rest of the Higher Education Funding Council-funded, or publicly funded, world of higher education.
Kevin Foster (Torbay) (Con)
The Minister will agree that one of the key ways of judging the success of the student loan finance system is the number of people from disadvantaged backgrounds who are going to university. What role does he see for access agreements in particular alongside the support provided by the SLC?
Joseph Johnson
Access agreements play a vital role. The funding now flowing through access agreements to support widening participation has doubled over recent years and now stands at well over £800 million a year. Access agreements are driving progress in widening participation, and the rate at which people from the most disadvantaged 20% of households are accessing higher education has jumped, with the figure now standing at more than 20% of that particular group.