Review & compensate graduates whose student debt is higher than amount borrowed

Background

Thousands of students were unaware that inflation-linked interest could increase their loan balance despite years of repayments. Many graduates now owe more than they originally borrowed for their student loans.

Additional details

We want the Government to launch an independent review into this phenomenon and whether student loans were mis-sold. The review should also look into ways to improve transparency so future students fully understand the long-term cost of borrowing. The Government should fund writing off debt above the original amount borrowed for long-term borrowers who have consistently repaid and compensate those who have been found to be financially disadvantaged by inflation-linked interest. We believe borrowers who have responsibly repaid their loans for years should not find themselves owing more than they originally borrowed.

Where it’s popular

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