BIS (Department for Business, Innovation and Skills) is consulting on potential early repayment mechanisms for student loans – similar to those paid by people who pre-pay their mortgages.
BIS is committed to the progressive nature of the repayment mechanism. It is therefore important that those on the highest incomes after graduation are not able unfairly to buy themselves out of this progressive mechanism by paying off their loans early. That is why BIS is consulting on potential early repayment mechanisms – similar to those paid by people who pre-pay their mortgages.
Further information can be found on the Higher Education Reform website.
Input is sought on the following three questions:
- Should BIS introduce a more progressive mechanism for early repayment of student loans?
- If BIS should introduce a more progressive mechanism, which model best delivers BIS’ stated aims of ensuring the progressiveness and sustainability of the student finance system?
- How would a more progressive early repayment mechanism affect you or your organisation’s perception of, and relationship with, the student finance system?
See also the Higher Education White Paper (URN 11/944) and related publications URNs 11/1046, 11/1048, 11/1049 and 11/1050
Hazel’s comment:
Please be grateful that I found the links to the related publications!! It was not the easiest task in the world and I gave up after 10 minutes on the “higher education reform website”.
Answers to the problem in the comments, please.
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