Question to the Department for Education:

To ask the Secretary of State for Education, what assessment she has made of the (a) adequacy and (b) clarity of the information provided to prospective students about the terms of Plan 2 student loans at the point of application.

Plan 2 loans were designed and implemented by previous governments. Prospective students had access to a wide range of information across a range of platforms before they submit their loan application.

Student loan terms and conditions make clear that the conditions of the loan may change in line with the regulations that govern the loans. Students sign these terms and conditions before any money is paid to them.

The student finance system is designed to function differently to a commercial loan. Repayments are calculated solely on earnings, not on amount borrowed or the rate of interest applied. Crucially, Plan 2 student loans are cancelled after 30 years, regardless of outstanding balances.