Brexit saving taxpayers greater than £300m a yr in unpaid EU pupil loans

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BREXIT is saving taxpayers greater than £300m a yr in unpaid EU pupil loans.

Ministers have vowed to plough the additional money into coaching up Brits now we have left the bloc.

EU students were handed £590m a taxpayer-backed loans in 2020-21

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EU college students have been handed £590m a taxpayer-backed loans in 2020-21Credit score: PA

Tory MPs hailed the information as a significant dividend of our determination to make a clear break from Brussels.

An eye fixed-watering £590m of taxpayer-funded loans have been granted to college students from EU states in 2020-21.

However the authorities admits greater than half of that quantity will nearly actually by no means be repaid.

The startling revelation is contained in a Whitehall paper outlining the advantages of Brexit.

Former minister David Jones mentioned: “This can be a notably welcome advantage of Brexit.

“British taxpayers have been paying for the schooling of 1000’s of international college students who clearly had no intention of repaying the loans.

“Leaving the EU now allows us to pay for the schooling and coaching of 1000’s of British college students, proving how sensible we have been to vote to depart the EU.”

Brussels guidelines made us deal with college students from the EU the identical as British ones whereas we have been a member.  

That meant they have been entitled to loans and grants on the identical phrases, and paid the identical £9,250 a yr charges.

Many by no means met the earnings threshold to start out repaying, or returned house making it troublesome to chase up their invoice.

However now we have left they’re topic to the identical guidelines as individuals who come right here from the remainder of the world.

There have been 153,000 college students from the EU at our unis in 2020-21. Their default price was roughly the identical as that of Brits.

A examine by the Greater Training Coverage Institute discovered EU college students generate a median internet financial achieve for the UK of £71,000 every.

That compares with £102,000 for many who come right here to review from nations outdoors the bloc.

Researchers estimated all worldwide college students are value roughly £28.8bn a yr to the British economic system.





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