News story

Government responds to early student loan repayment consultation

In a consultation document published last June the Government asked whether there should be a charge for early repayment, and if so, what form…

This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

In a consultation document published last June the Government asked whether there should be a charge for early repayment, and if so, what form such a charge would take. Most respondents did not favour the introduction of a charge.

Business Secretary Dr Vince Cable said:

“We have listened to the evidence from those who responded to the consultation and as a result we will not be introducing a charge on early repayments.

“Our student finance package is fair, sustainable and progressive and will remain so without a charge for early repayment.”

Universities and Science Minister David Willetts said:

“This decision gives students beginning their studies this autumn clarity about the repayment arrangements that will be in place when they graduate.

“It is also clear from the consultation that the ability for graduates to make voluntary repayments on their student loans is valued. We will be working closely with the Student Loans Company and others to give clear advice and guidance on early repayment.”

Notes to editors


  1. A Written Ministerial Statement was tabled in Parliament this morning and can be read online at http://www.parliament.uk/business/publications/hansard/commons/todays-written-statements.

  2. The consultation document on early repayment, published on 28 June 2011, can be viewed online at http://discuss.bis.gov.uk/hereform.

  3. One hundred and fifty-four responses were received on the consultation. A list of respondents and summary of responses can be viewed online at http://discuss.bis.gov.uk/hereform.

  4. BIS’s online newsroom contains the latest press notices, speeches, as well as video and images for download. It also features an up to date list of BIS press office contacts. See [http://www.bis.gov.uk/newsroom](http://www.bis.gov.uk/newsroom) for more information.

Notes to Editors

Contact Information

Name BIS Press Office Job Title

Division COI Phone

Fax

Mobile

Email NDS.BIS@coi.gsi.gov.uk

Name Michael Gibbs Job Title

Division Department for Business, Innovation and Skills Phone 020 7215 1635 Fax

Mobile

Email michael.gibbs@bis.gsi.gov.uk

Published 23 February 2012