Remove all accrual of interest from student loans and recalculate outstanding balances as if no interest had been applied since the loans were issued.
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Student loan borrowers can see their balances grow substantially through interest, even while making repayments. We believe access to higher education should not result in decades of growing debt, particularly when borrowers have no choice over their plan or the terms that apply to them. In our view, England’s student finance system should support access to education, not add to the financial burden of pursuing it, so removing interest and recalculating balances would create a fairer system and help ease financial strain.