Millions of graduates in the UK are facing crippling student loan debts that could last them 30 years, with some owing up to £100,000. The issue is expected to become a major concern for the government as growing anger over the situation threatens to boil over.
The problem lies in the way student loans are structured and how they impact graduates' finances. Plan 2 repayment plans, which affect around 5.8 million people, require those earning above £28,470 a year to repay 9% of their income above that threshold. This can quickly become unaffordable for many, with some graduates reporting monthly payments of over £800.
Amy Cayzer, a 24-year-old communications officer, is one such graduate. She graduated in 2023 with a first-class degree and was told the loans would be "barely noticeable". However, she has seen her debt balloon from £73,814 to £93,793 due to high interest rates of up to 8%. "It's overwhelming," she says. "I'll never be able to get rid of it. It takes away all hope that you'll ever pay it off."
Others are facing similar struggles. Jo, a music teacher who studied at a top London conservatoire, owes £99,987, with plans to repay approximately £100,000 to £150,000 over 30 years. She feels "deeply, unavoidably betrayed" by the system and worries that her generation is being unfairly penalized.
William Pratt, a data analyst from Cambridge, has seen his debt increase from £56,000 to nearly £90,000 due to high repayments of close to £300 a month. He says the system actively discourages career progression and feels resentful towards older generations who paid no graduate tax.
Daniel, an engineer from Newcastle, pays £856 a month towards his student loans, which he believes is more than he pays for his mortgage. He feels that the system operates like a graduate tax and worries about how it affects his marginal tax rate.
Rebecca, who studied land economy at Cambridge University, felt "cheated" by the system when she discovered the interest rates had limited to 35% of RPI inflation over 10 years, rather than the expected 53%. She says that for many mums with childcare costs, work simply doesn't pay due to the high repayments.
As the debt burden grows, graduates are becoming increasingly frustrated and disillusioned with politics. The government is facing mounting pressure to rethink the student loan system, with some calling for an urgent review of the plan 2 repayment plans.
The problem lies in the way student loans are structured and how they impact graduates' finances. Plan 2 repayment plans, which affect around 5.8 million people, require those earning above £28,470 a year to repay 9% of their income above that threshold. This can quickly become unaffordable for many, with some graduates reporting monthly payments of over £800.
Amy Cayzer, a 24-year-old communications officer, is one such graduate. She graduated in 2023 with a first-class degree and was told the loans would be "barely noticeable". However, she has seen her debt balloon from £73,814 to £93,793 due to high interest rates of up to 8%. "It's overwhelming," she says. "I'll never be able to get rid of it. It takes away all hope that you'll ever pay it off."
Others are facing similar struggles. Jo, a music teacher who studied at a top London conservatoire, owes £99,987, with plans to repay approximately £100,000 to £150,000 over 30 years. She feels "deeply, unavoidably betrayed" by the system and worries that her generation is being unfairly penalized.
William Pratt, a data analyst from Cambridge, has seen his debt increase from £56,000 to nearly £90,000 due to high repayments of close to £300 a month. He says the system actively discourages career progression and feels resentful towards older generations who paid no graduate tax.
Daniel, an engineer from Newcastle, pays £856 a month towards his student loans, which he believes is more than he pays for his mortgage. He feels that the system operates like a graduate tax and worries about how it affects his marginal tax rate.
Rebecca, who studied land economy at Cambridge University, felt "cheated" by the system when she discovered the interest rates had limited to 35% of RPI inflation over 10 years, rather than the expected 53%. She says that for many mums with childcare costs, work simply doesn't pay due to the high repayments.
As the debt burden grows, graduates are becoming increasingly frustrated and disillusioned with politics. The government is facing mounting pressure to rethink the student loan system, with some calling for an urgent review of the plan 2 repayment plans.
... I mean, I get it, the UK can't afford all that money, but £100k+ loans? That's insane! 
I was expecting to be able to move out and start my life after uni, not stuck with a 30-year debt burden. It's like they're setting these people up for failure.
. I don't blame the graduates who are feeling betrayed and frustrated, they have every right to be. I mean, who benefits from this system? The government, that's who... it's like a never-ending money pit for them.
. Maybe it's time to rethink the repayment plans or find ways to make student loans more manageable for people. I feel bad for these graduates, they're just trying to start their lives and build careers, not burdened by decades of debt.
. I mean, £100k in debt is just crazy talk! I was like that back in the day, but at least I knew how to use a calculator and make some smart financial moves. These new repayments are like, 'Pay 9% of your income above £28k? No thanks!' It's not fair to them, you know?
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. I mean, I get it, we gotta have these systems in place, but £100k+ debt and having to pay that much each month? It's just too much for a lot of people. They're already struggling to make ends meet and now they've got this huge debt looming over them.
. And don't even get me started on the interest rates, it's like they're not even trying to be fair. I mean, who expects to have to pay back upwards of £93k in interest alone? It's no wonder people are feeling betrayed and angry.
. It doesn't seem right to me, especially when we're seeing so many young folks struggling with debt. I think the government needs to take a closer look at this and maybe come up with some new plans or alternatives.
. It's like, what even is the point of having a degree if you can't afford to pay off the loan? 
. The gov needs to listen to people and make some changes ASAP 
. It's not fair to one generation to burden another with all this debt 
.
I get it, high interest rates can be harsh. But come on, £800 monthly payments? That's just insane! 
Anyone got any ideas how to fix this system? 
. I know some people say the government is trying to support education, but what about supporting these graduates? They're already struggling to make ends meet.
. Maybe it's time for a new plan or at least a more generous forgiveness option 
. We can't keep expecting people to live on £28k per year and still afford living costs 
and it's not fair that people are being forced to pay £300/month like william does that's just crazy 
and the system should be more flexible Rebecca's thing about childcare costs is SO true many mums struggle with work because of high repayments 
we need some major changes ASAP 
The government needs to take another look at this plan and find a way to make it more fair, you know? Like, what's the point of having a degree if you're gonna be stuck in debt for years? 
. And what really gets me is that they're being penalized for having good careers 
. It's time for the government to listen to these young people and make some real changes 
.
I'm telling you, it's a disaster! These £100k+ debt figures are insane! 
.