Martin Lewis, consumer finance expert, believes new student loan arrangements could cause school-leavers to question if a degree is worth the cost. Under the new plans, student loans function as a graduate tax. Most individuals will face a 9% additional tax burden above the £25,000 threshold. Graduates will end up repaying over double what they pay now. The majority of graduates will pay their loans throughout their working lives. The shift has moved away from the state paying for education to the individual paying.
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"We must stop calling it a student loan," says Martin Lewis
Description
Martin Lewis, consumer finance expert, believes new student loan arrangements could cause school-leavers to question if a degree is worth the cost.
Author
Susan Jane
Publisher Name
The Guardian
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