Question reference: S5W-08420
- Asked by: Alexander Burnett, MSP for Aberdeenshire West, Scottish Conservative and Unionist Party
- Date lodged: 27 March 2017
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Current status: Answered by Shirley-Anne Somerville on 20 April 2017
Question
To ask the Scottish Government how it ensures that the student loan system is fair and equitable.
Answer
All eligible students, regardless of their household income, can access a student loan of £4,750 per year. The current rate of interest on these loans is 1.25% and, once graduated, students pay back 9% of their earnings above the current earnings threshold of £17,775 per annum. Average student loan debt in Scotland continues to be the lowest in the UK.
The on-going independent review of student support in Scotland is considering whether the current system is effective and fair overall. Examination of the operation of the student loans system forms part of this work.