Inflation is still sky high and we need a sustainable student finance system. Surely there's no other answer.
Inflation is still sky high and we need a sustainable student finance system. Surely there’s no other answer.An 18-year-old leaving university in three years’ time who will get a job paying £26,000 will pay 29p in every extra pound they make towards either tax or their student loan. Meanwhile someone who went to university 40 years ago and who now earns £50,000 will pay just 20p.
Students loans became a far bigger burden once tuition fees were introduced in 1998 and bigger still when they were trebled to £9,000 in 2012. But we’re constantly reminded that they’re not really a debt. They function more like a ‘graduate tax’: those who leave university pay 9 per cent of their income over a certain level – £25,000 for this year’s cohort – until they’ve paid off the full amount, or they reach the end of their loan term 40 years later.
Well here’s a novel idea. How about we extend that ‘tax’, to say, people who are over 50 who went to uni and didn’t have to pay for it?
Danmark Seneste Nyt, Danmark Overskrifter
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