Treasury Committee
2 June 2026
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Treasury Committee House of Commons
00:07 - 01:57
Speaker 5
Order. Order. Welcome to the treasury select committee on Tuesday 06/02/2026. We're here to start our inquiry into the student into student finance, and we're very pleased to have had 52,000 expressions of experience from, well, mostly, graduates who've written in about their experience of the student loan system, particularly plan two. We've also had 300 other bits of written evidence sent in from various bodies.
So thank I want to thank all of those who've contributed. And I'm delighted to welcome the first panel of two today to discuss the issue. So from my left to right, we have Toby Welton, who's the senior researcher at the Intergenerational Foundation. Next to him is Kate Ogden, who's the senior research economist at the Institute for Fiscal Studies. Sir Philip Auger is the he chaired the twenty nineteen independent panel report to the review of post 18 education and funding in England.
So he's the man who's really looked at this in in great detail. And and finally, Vivian Stern is the chief executive of Universities UK, obviously has a strong interest in this and has over twenty five years of experience working in the higher education sector. So thank you very much indeed for coming. And we will have a second panel later with other other panelists, and we'll have a small short break in between. But I wanted to start, if I could, with you, sir Philip, because you've looked at all of this in detail.
And then one of the big things that came out of the people who've written the experience of people who've written to us is that that high rate of interest is one of the things that's caused particular unhappiness, particularly on plan two. Can you just perhaps outline your thoughts on on the levels of interest rate and how that also plays into how the the scheme should fund itself and how that compared and also the impact that has having on students or postgraduates when they're having to repay it.
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