Student Loan Repayment Plans Debate
Full Debate: Read Full DebateDepartment: Department for Education
Bell Ribeiro-Addy
Main Page: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)Department Debates - View all Bell Ribeiro-Addy's debates with the Department for Education
Student Loan Repayment Plans
Bell Ribeiro-Addy Excerpts(1 day, 8 hours ago)
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Bell Ribeiro-Addy (Clapham and Brixton Hill) (Lab)
It is a pleasure to serve under your chairship, Ms Lewell. I thank my hon. Friend the Member for Ilford South (Jas Athwal) for introducing this crucial debate. I want to start by saying, on the record, that I do not agree with tuition fees, and I do not support the decision to raise them. If there is still an MP in this House who voted to bring in tuition fees in the first place, they should be deeply ashamed of themselves for pulling up the drawbridge behind them.
As someone whose entire undergraduate degree cost less than what a current student can expect to pay for a year, it is only right that I advocate for current and future students. Like so many, I have had a number of constituents on plan 2 student loans contact me to say that they have been working ever since they left university, and have consistently made payments to their loan, yet they have not once seen their total loan decrease; in fact, they have increased by substantial amounts. That is happening to so many young people. Many of us have staff in that situation.
Some are calling it a graduate tax, and others are even using that phrase to assert the fairness of this loan system, but that is, frankly, an insult to graduates who are already paying taxes on their income. The terms of the plan 2 student loan make it more comparable to something that a loan shark would offer. It is not a graduate tax, and it is just not fair. As for the decision to freeze the repayment threshold, it is a one-sided breach of contractual terms. We need a more equitable approach to higher education funding overall.