Consultation outcome

Student loans: early repayment

• From: Department for Business, Innovation & Skills
• Published: 28 June 2011

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

This consultation has concluded

Read the full outcome

Written ministerial statement by the Rt Hon David Willetts: student loan repayment

Ref: BIS/12/621

PDF, 54.9 KB, 1 page

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Detail of outcome

We agree with the majority of respondents that individuals should be allowed to repay student loans without penalty if they wish. We have decided that we will not make any changes to current arrangements and will not introduce any early repayment systems.

Detail of feedback received

We received 154 responses from the general public, and main stakeholders including a diverse range of:

• higher education providers and representative bodies
• consumer groups
• employers
• professional bodies

You can view a summary of the responses and a list of respondents on the ‘Higher education reform’ website. The majority of respondents were opposed to there being any restrictions on a borrower’s ability to make early repayments.

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Original consultation

Summary

We're asking for views on early repayment options for student loans, like those paid by people who pre-pay their mortgages.

This consultation ran from
28 June 2011 to 11:45pm on 20 September 2011

Consultation description

We want to know your views on potential early repayment options for student loans, like those paid by people who pre-pay their mortgages.

The consultation outlines the options and the implications for borrowers, employers and others involved.

Documents

Consultation on potential early repayment mechanisms for student loans

Ref: BIS/11/1047

PDF, 145 KB, 10 pages

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Published 28 June 2011