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Sale of Student Loans Bill

As I have made clear throughout the proceedings on the Bill, we expect the terms and conditions to be the same regardless of whether the student loan has been sold. The impact on the borrower should be exactly the same. I was referring to the EUROSTAT redrafting process. Changes in the rules, which occur from time to time, can have a material impact on the ability to offer compensation. It would be unwise to have only one means of addressing the issue that might, under rules updated after the current redrafting or a future alteration, prevent a true sale. That would negate part of the purpose of transferring the loans from the public to the private sector. I can give the response that the hon. Member for South Holland and The Deepings (Mr. Hayes) asked for in respect of the comments of my noble Friend Baroness Morgan. She made it clear in the other place that the amendment that gives powers to make undertakings is about ensuring that a sale can yield good value for money and that a true sale can release resources for use on Government priorities. It provides an option for the Government to use in realising both those aims.