Money Saving Expert have a very good guide that details this further [1].
[1] https://www.moneysavingexpert.com/students/student-loans-tui...
Money Saving Expert have a very good guide that details this further [1].
[1] https://www.moneysavingexpert.com/students/student-loans-tui...
* debt incurs interest at rates way above what someone could get a personal loan for
* it still affects people's ability to borrow when it comes to house buying etc
* if your parents are rich enough to pay your fees then you don't pay the tax
* if you earn enough to pay of the debt quickly they you'll pay less than someone with a middling income who earns enough to pay a lot but not clear the debt
Just make a proper graduate tax instead is my view
I do not blame the students of this year to dispute about paying for the university fees when they are going to either retake because their exams were cancelled (due to COVID) or the quality of the course was not good enough and is not worth it.
COVID just made it even glaringly obvious and worse.