After the official announcement of an overhaul of how graduates in England will repay tuition-fee and maintenance loans in the future, ministers also urged universities to make “efficiencies” to cope with the reduced income they faced from a prolonged freeze on tuition fees.
Students who enrol in 2023-24 will have to make repayments for 40 years rather than 30 under the system. Save the Children labelled the reforms as “among the most regressive yet”, while the Institute for Fiscal Studies said that high-earning borrowers “stand to benefit substantially”.
According to the IFS, graduates on lower-middle earnings would suffer the biggest proportionate loss – the equivalent of more than a penny in every pound they will ever earn.
This story is from the February 25, 2022 edition of The Guardian.
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This story is from the February 25, 2022 edition of The Guardian.
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