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"A graduate tax could replace student loans, according to the former director at the student regulator, who called the current system doomed. Chancellor Rachel Reeves faces growing calls for change after she defended student loans despite the amounts owed by graduates becoming harder to pay off. Former director of the Office for Students, John Blake, who stood down last month, has now claimed reform is inevitable and the government must listen to graduates with mounting debts as interest rates soar."
The Independent seeks donations to fund journalism, sending reporters to cover developing stories and avoiding paywalls so reporting remains free and accessible. A graduate tax could replace student loans. Chancellor Rachel Reeves faces growing calls for change after defending student loans despite increasing difficulty for graduates to repay. Rising interest rates and growing repayment burdens are making debts harder to extinguish. Graduates in their early thirties face nine percent of paychecks being deducted while debt totals continue to grow. Many graduates experience the system as oppressive and incomprehensibly unfair. The English student loan system is characterized as fundamentally broken and in need of reform.
Read at www.independent.co.uk
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