Student loans = national disgrace. Wipe the student debt.

I did a simple spreadsheet - Student Loan £9250 for 3 years, 3 years x £5000 maintenance loan. Approx £45,000. Year 4 they start earning £30k - interest is added at 6.2% - they pay 9% additional tax on salary above the 25% threshold. By Year 25 the debt rises to £122,000.

On the median salary, how much would they pay back over those 25 years?

I did it a while back - I can recreate the data based on current 25% tax band but this full sheet uses base £30k salary rising with 5% inflation for 25 years. The 9% tax column is per year but needs to be accumulated to get total

I originally got on this subject with my own son going to Uni - he's now doing a PhD and his partner did a master's and is paying 13% extra tax

Instead of using Excel again I used copilot - Debt of £180,000 remains after 30 years.

Check the IFS report on student loan repayment. Only 17% of loans are fully repaid. The taxpayer is being ripped off & students mis-old. Your piece should start with the worthiness of degrees. Universities are operating an enormous gravy train.

Government creates the most progressive loan you could possibly think of whereby majority of beneficiaries won't pay it off and will face no penalties; but the more you earn, the more you pay Oli: Is this a regressive tax?

rICh PeOpLe OpT oUtS aRe PrOgReSsIvE aCtUaLlY you are a mark

That doesn't make it regressive you midwit. Words have meanings and it's important you use them correctly. This is *definitionally* NOT a regressive tax. It's the opposite of one. It is a progressive tax whereby only the highest-earners pay it back.

I have a higher marginal tax rate than the partners I work for who: 1) earn well over 5x my salary 2) had no student loans

Please sir, my economy, it’s very sick

How is that fair for everyone who’s paid theirs? We can choose: either 50% go to uni and we can’t afford it, or we go back to when it was far far lower and we can afford it.

Under duopoly neoliberalism we sold our future for private profit NHS PFI of 80 Billion for 12 Billion of assets…… that interest is THEFT from the people of the UK like the interest on student loans is THEFT of the future by the same extractivist parasite class.

Oli, you should have learned a trade instead of messing around in Uni and ending up at the Statesman.

I took out £10k in 2020 for my masters …….. how can this be I pay more interest on my mortgage !

Great - I've just spent 13 years paying mine off - you going to fight for my refund? Or special treatment only for you guys? 😉

No it’s your debt not the taxpayers

This is a awful policy

it's nothing short of usury - punitive contrary to public interest. A burden which only gets bigger unless your parents are rich enough to pay off the capital.

Students need to organise

Deluded nonsense

I'll agree to this when universities stop offerring bullshit courses and limit the calibre of students that attend. I'm not going to support being taxed for someone to study gender studies or expressive dance. And yes, I have student debt, but my career pays for it.

Someone has to pay for it. Nothing is free.

Workers! Work hard for Oli and the writers of the New Statesman so you can hear for yourselves what your betters want you to think. Which includes paying for their years of holiday at university. You have nothing to lose but your hope.

Unreported topic and thank you focusing a spot light on this.

I fucking love this campaign. The first time anybody has ever directly done anything to try and further the cause of this undervalued and abused generation.

We should only cancel student loans if you don’t vote for the Green Party

We don’t pay for their education. Their education pays for us. The case for free university education:

Student loans are a non issue Max them out You won’t pay anything back until you’re earning a really good wage If you pay them back at all Don’t listen to idiots like this They will just make your life harder and trying to point score..

@Keir_Starmer . Just why is the government charging students interest on their student loans etc, this is disgusting. Students never get to reduce their debt but actually end up owing more than the original loans.

Stem subjects should be free but if someone wants a degree in Psychology of Fashion or Horology then they can pay for it

Try having a postgrad loan too. At 50k+ you’re on a 57% marginal. Taxed harder than fucking billionaires.

Why would you pay for a higher education that supplies you a job area that pays such low wagers? These people crying today about Uni debt are the same ones that happily voted Labour & Tory since the 90’s. You voted for this, so don’t cry about it.

LFG

Yeah! People paying for stuff will never catch on.

Agree for courses that clearly aid the economy/occupations in demand, and subject to not getting a free education and moving abroad.

Oli, i dont agree with much you say, but on this, you're 100% right.

No give everybody a tax cut

I'm all for not taking advantage of those with obvious learning difficulties, but.... Idiots should not be rewarded for being idiots.

Should have became a plumber

The “something for nothing brigade won’t” brigade strikes again

Find out the financial links to who approved the sale and rates of % hikes. Expose them