Question to the Department for Education:

To ask Her Majesty's Government what plans they have, if any, to provide assistance to students paying over six per cent in interest on their tuition fees and maintenance loans.

The system of variable interest rates based on income is progressive, and ensures that higher earners make a fair contribution to the sustainability of the higher education system.

Student loan interest rates vary with income. Only borrowers earning over £45,000 and those in study pay the maximum interest rate of 6.3% and many will be charged less than this. The system of variable interest rates help ensure that the highest earners make a higher total contribution than those on lower incomes.

Reducing interest rates would benefit high earners only. That is why the government has increased the repayment threshold from tax year 2018-19 and will increase the repayment threshold again in April 2019, reducing monthly repayments for all borrowers earning above £25,000.

We believe that it is right that students should contribute to the cost of their higher education and that this contribution should be linked to their income. This means that those who have benefited the most from their education repay their fair share.