Sarah Russell

I am pleased to see you in the Chair, Ms Lewell. I thank my hon. Friend the Member for Ilford South (Jas Athwal) for securing this debate. The system just is not fair; it does not make any sense and it does not set people up well for life. Realistically, a person makes a decision about whether to go to university when they are about 16 or 17 years old. We would not let banks lend money to 16 and 17-year-olds on these terms—we would think it wrong; people cannot enter into those contracts until they are 18—but when someone makes the decision to apply to university, unless they are from a very wealthy background, they are essentially signing up to a huge amount of ongoing debt. Young people quite rightly aspire to own homes, start families and have the same sort of life and pension savings that the generations before them had, and I do not see how that is unreasonable. Yet we are allowing a system to persist in which many of them are paying 9% of their income, on top of the tax they already pay, spiralling house prices and the incredibly high requirements for childcare, if they wish to have a family. Of course, Labour has rightly helped with many of those problems, but the student loans system remains a barrier to opportunity. We should have great aspirations for our young people. Education is a right, and should not be a privilege, but those privileged enough to have parents who can pay for their fees up front have a massive benefit over everyone else. That is wrong and it needs to change.