For Working-Class Students, Lifelong Debt is a Stigma that Won't Fade
When it comes to higher education in the UK, many students are led to believe that student loans will be manageable and easily cleared once they enter the workforce. However, for those from working-class backgrounds who relied on these loans simply to live, the reality is far more brutal.
The original premise of student loans was that they would be a small contribution that could be easily repaid later in life. But for many students, including Gina Tsang, who began her studies in 1999, this assumption never held true. Years turned into decades as they struggled to earn above the repayment threshold, some even in their 40s. And unlike later cohorts of students, there is no fixed write-off date after 20 or 30 years.
In fact, those who entered university between 1998 and 2006 are still burdened with debt until age 65, with interest having more than doubled the original amount. This has created a forgotten cohort – encouraged into higher education in the name of social mobility yet left with a lifelong financial burden if they lack family wealth or early access to opportunity.
Rupert Jones highlights the inequities in the student loan system, but the problem runs much deeper. The interest accrued by graduates actually contributes to the national debt, making it a mirage for those who pay off their loans. Norman Gowar suggests a zero-interest regime would be a solution, removing inter-cohort inequities and allowing debts to be paid off more quickly.
But there's another issue at play – one that affects not just graduates but taxpayers as well. Many students use their maintenance loans to pay rent to private landlords, who in effect are being paid by the taxpayer. Meanwhile, these young people face a lifetime of debt under a contract they have no control over. It's time for the government to take action and tax some of this increased equity to reduce the debt burden.
As Debbie Balderston argues, this is a matter of fairness – not just for the graduates but also for taxpayers who foot the bill for these private landlords' mortgages. The system needs to change, and fast. For working-class students, lifelong debt is a stigma that won't fade anytime soon unless drastic action is taken.
When it comes to higher education in the UK, many students are led to believe that student loans will be manageable and easily cleared once they enter the workforce. However, for those from working-class backgrounds who relied on these loans simply to live, the reality is far more brutal.
The original premise of student loans was that they would be a small contribution that could be easily repaid later in life. But for many students, including Gina Tsang, who began her studies in 1999, this assumption never held true. Years turned into decades as they struggled to earn above the repayment threshold, some even in their 40s. And unlike later cohorts of students, there is no fixed write-off date after 20 or 30 years.
In fact, those who entered university between 1998 and 2006 are still burdened with debt until age 65, with interest having more than doubled the original amount. This has created a forgotten cohort – encouraged into higher education in the name of social mobility yet left with a lifelong financial burden if they lack family wealth or early access to opportunity.
Rupert Jones highlights the inequities in the student loan system, but the problem runs much deeper. The interest accrued by graduates actually contributes to the national debt, making it a mirage for those who pay off their loans. Norman Gowar suggests a zero-interest regime would be a solution, removing inter-cohort inequities and allowing debts to be paid off more quickly.
But there's another issue at play – one that affects not just graduates but taxpayers as well. Many students use their maintenance loans to pay rent to private landlords, who in effect are being paid by the taxpayer. Meanwhile, these young people face a lifetime of debt under a contract they have no control over. It's time for the government to take action and tax some of this increased equity to reduce the debt burden.
As Debbie Balderston argues, this is a matter of fairness – not just for the graduates but also for taxpayers who foot the bill for these private landlords' mortgages. The system needs to change, and fast. For working-class students, lifelong debt is a stigma that won't fade anytime soon unless drastic action is taken.
. I mean i know it sounds crazy but some people are still paying off their loans till they're like 65 lol 
. That's just not right. And the thing that really gets me is that these loans are basically a burden on everyone else too, especially private landlords who get paid by taxpayers and then charge students for rent 
. It's like the system is rigged against working-class people. I feel so bad for those who can't afford to pay off their loans. We need some serious change ASAP 
. It's just not right that those from working-class backgrounds are hit the hardest with these loans and can't get a break after 20 years 
. We need to rethink this whole system and make it more fair for everyone 
.
you know I'm still stuck with my student loan from back in '97... I mean, 25 years ago 
. But no, instead we're stuck with a broken system that leaves a whole generation of working-class students struggling to get on their feet 
. Newsflash: student loans were always meant to be a risk, not a free ride. If you can't afford the repayments, that's on you, not us 
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. It's time to make things more fair for everyone, not just the graduates 
. We need a system where people can graduate without being saddled with debt forever 
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. I reckon a zero-interest regime is a good idea, but also taxing the increased equity from these student loans could help level things out 
. Something needs to change ASAP!
. Taxing private landlords' mortgages could be a good start, but we also need to talk about reforming the interest rates and making sure graduates aren't trapped in this never-ending cycle 