Bobby Dean

Over the last few weeks, there has been a national debate raging that, so far, this place has been pretty silent on. It is on the matter of student loans. I know what some on the Government Benches may be thinking, but I am not prepared to duck difficult subjects. Let us face it: the student loans system has changed beyond recognition since its introduction, and that is one of the key complaints of graduates. Maintenance grants have been scrapped in favour of loans, which means that the poorest students now arrive at university with the largest debt. Interest rates, tied to inflation, have soared in recent years; following the period of high inflation, people have been saddled permanently with much larger debts than they expected. Thresholds have been repeatedly frozen, including by this Labour Government at the last Budget, which the Institute for Fiscal Studies estimates will add around £3,000 on average to people’s debt pile. All that means that the agreement that students struck has been repeatedly, and unilaterally, changed by the lender after the agreement. I do not believe that would be tolerable in any other walk of life. When the Chancellor was challenged on this last week, she said that the system is “fair and reasonable”. I do not agree, and I think many graduates do not agree, so will the Leader of the House organise a debate in Government time on the changes that have been made to the student loans repayment system?