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Penalty for paying off student loan early is lifted

Publié par Clifford Armion le 16/02/2012

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Robert Winnett, and Tim Ross

Vince Cable, the Business Secretary, had intended to introduce an early repayment penalty which would have cost graduates thousands of pounds if they cleared their debts within 30 years of leaving university.

The Prime Minister is understood to have dropped the scheme earlier this week amid warnings that it would be unfair on the hundreds of thousands of people expected to repay their loans early. The deal was agreed after Mr Cameron backed down and allowed Mr Cable to appoint the controversial Prof Les Ebdon as the Government's new university admissions tsar.

A Downing Street source said: The Lib Dems were very keen to appoint Ebdon and we felt very strongly about penalties for early repayment of loans. This is hopefully good news for tens of thousands of families, as well as many Conservative MPs who had raised concerns about the penalties.

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Pour citer cette ressource :

"Penalty for paying off student loan early is lifted", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), février 2012. Consulté le 21/04/2024. URL: https://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/penalty-for-paying-off-student-loan-early-is-lifted