The crippling burden of student loans is suffocating graduates across the UK. Martin Lewis, a prominent campaigner for financial reform, warns that the government's handling of student loan debt could spark a fresh crisis. Millions of young people are struggling to repay exorbitant debts, with some graduating with debts exceeding £100,000.
The situation has been made worse by changes to repayment thresholds, which have pushed 5.8 million people into higher repayment brackets. Many graduates, including those who took out loans between 2012 and 2023, are now facing significant monthly payments, often taking a large chunk of their income.
Amy Cayzer, a 24-year-old communications officer from a low-income family, is one such graduate. She graduated with £73,814 in debt, which has increased to £93,793 due to high interest rates. "It's overwhelming," she says. "Even though I'm paying every month, it doesn't make a difference to what I owe." Cayzer worries that the system perpetuates inequalities, as some graduates from wealthier backgrounds may have had their parents subsidize them.
Another graduate, Jo, who studied music education and is now facing a £99,987 debt bill, says she feels "betrayed" by the government. She believes that funding education through general taxes is a good thing, but the current system is unfair and unsustainable. Jo notes that even as a higher earner, she doesn't want to earn more money due to the impact on her tax rate.
William Pratt, a 29-year-old data analyst from Cambridge with a PhD, has struggled to make ends meet. His combined repayments are close to £300 a month, taking away from basic living costs. "The system is unsustainable," he says. He feels that graduates who don't want to earn more money can't afford to, due to the debt burden.
Daniel, a 28-year-old engineer from Newcastle, also faces significant monthly payments of £856. His total debt has climbed to about £83,000, making him feel like he's being "hoovered" out of his own economy.
Many graduates, including Nicole, who studied classics at Durham University, feel cheated by the system. They were told that loans would be index-linked with low interest attached but didn't realize they would keep limiting repayment thresholds. Rebecca, a 39-year-old land economist from Lancashire, says she feels a bit cheated because this is not what she expected.
As the situation continues to worsen, Martin Lewis warns that the government needs to rethink its approach to student loan debt. The current system is unfair and unsustainable, pushing graduates into poverty and financial despair.
The situation has been made worse by changes to repayment thresholds, which have pushed 5.8 million people into higher repayment brackets. Many graduates, including those who took out loans between 2012 and 2023, are now facing significant monthly payments, often taking a large chunk of their income.
Amy Cayzer, a 24-year-old communications officer from a low-income family, is one such graduate. She graduated with £73,814 in debt, which has increased to £93,793 due to high interest rates. "It's overwhelming," she says. "Even though I'm paying every month, it doesn't make a difference to what I owe." Cayzer worries that the system perpetuates inequalities, as some graduates from wealthier backgrounds may have had their parents subsidize them.
Another graduate, Jo, who studied music education and is now facing a £99,987 debt bill, says she feels "betrayed" by the government. She believes that funding education through general taxes is a good thing, but the current system is unfair and unsustainable. Jo notes that even as a higher earner, she doesn't want to earn more money due to the impact on her tax rate.
William Pratt, a 29-year-old data analyst from Cambridge with a PhD, has struggled to make ends meet. His combined repayments are close to £300 a month, taking away from basic living costs. "The system is unsustainable," he says. He feels that graduates who don't want to earn more money can't afford to, due to the debt burden.
Daniel, a 28-year-old engineer from Newcastle, also faces significant monthly payments of £856. His total debt has climbed to about £83,000, making him feel like he's being "hoovered" out of his own economy.
Many graduates, including Nicole, who studied classics at Durham University, feel cheated by the system. They were told that loans would be index-linked with low interest attached but didn't realize they would keep limiting repayment thresholds. Rebecca, a 39-year-old land economist from Lancashire, says she feels a bit cheated because this is not what she expected.
As the situation continues to worsen, Martin Lewis warns that the government needs to rethink its approach to student loan debt. The current system is unfair and unsustainable, pushing graduates into poverty and financial despair.
and it's so much fun to ride around town. But anyway, have you ever noticed how some cafes have those little plant pots on the table? Like, what's up with that? Are they trying to make us think we're at a fancy restaurant or something? I swear, I just saw one of those plant pots and it was like, "Oh, okay, now this place is supposed to be high-end." Anyway, back to student loans... it seems crazy to me how much debt some people are taking on. Like, £100k is a lot to deal with 
! These kids are being saddled with debt that's crippling them before they even start their careers. It's not just about the money, it's about the mental health impact 
. They're feeling overwhelmed and trapped, like there's no way out. And for what? So we can keep perpetuating a system that benefits the already wealthy? No thanks! 
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. Something has to change, because this is just not fair 
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The govt needs 2 step in & sort this out ASAP, or else we'll be seein more & more young ppl losin their minds over debt 
I'm really struggling with these figures. £100k+ in debt for some people? That's insane! 
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We need to find ways to make education more affordable and sustainable for everyone, regardless of background or income. I'm all for a more progressive tax system or something... the current one feels super unfair 
. And don't even get me started on the repayment thresholds - it's like they're trying to suck every last penny out of these poor graduates' wallets 
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. It's so unfair that the system is perpetuating inequalities and making it impossible for people from low-income backgrounds to get ahead 
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Like, maybe fund it through taxes or something? I don't know, but this current system needs a major overhaul ASAP 
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what really gets me is that many people from low-income families are getting stuck with the most debt while those from wealthier backgrounds might've had their parents foot the bill 
i mean the crust was made from this special type of flour that's supposed to be better for u but honestly who cares when the toppings are THAT good 
anyway back to student loans... idk how ppl deal with those monthly payments it seems like it'd be super stressful just thinking about it 
. The system is just not fair, and it's perpetuating inequalities as you said, Amy 
. I mean, who can afford that kind of debt? Not many people can say they've got a decent job lined up with enough cash to pay those kinds of repayments 
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. Otherwise, we're going to be stuck in this debt cycle forever 
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