Britain’s student-finance system is being overhauled, again
The biggest reform since 2012 will see lower and middle earners pay more, and higher earners less
MORE THAN a million English students take out a student loan each year. But for the past decade the term “student loan” has been a misnomer. For most, the agreement works more like a graduate tax with an expiry date. Graduates pay 9% of their earnings above a certain threshold (currently £27,295, or $34,695, a year) towards repaying their debt. Anything still owing after 30 years is written off.
This article appeared in the Britain section of the print edition under the headline “Book value”
Britain April 30th 2022
- Nationalists are set for a historic win in Northern Ireland's vote
- Brexit has clobbered smaller businesses
- The NHS is in seriously poor shape
- Piers Morgan is the face of TalkTV
- Britain’s student-finance system is being overhauled, again
- In Britain, internal migration is out of favour
- Sir Keir Starmer, the cynical leader
From the April 30th 2022 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Britain
Britain’s brokers are diversifying and becoming less British
London’s depleted stockmarket is forcing them to change
What a buzzy startup reveals about Britain’s biotech sector
Lots of clever scientists, not enough business nous
Britain’s government lacks a clear Europe policy
It should be more ambitious over getting closer to the EU
The Rachel Reeves theory of growth
The chancellor says it’s her number-one priority. We ask her what that means for Britain