It appears that the Government have got the wrong end of the stick on the Graduate Tax.
The Tory Liberal economic plan is failing, and as a result they’re being forced to borrow far more than he intended. As a result, the Tories are coming for Britain’s graduates as they try to plug the funding gap.
There are 3.6 million graduates with student loans – and the Government is considering retrospectively hiking interest in order to help make the overall student loan book more attractive to potential investors. Shadow Minister for Universities & Science Shabana Mahmood has written on the matter on the LabourList website here – LINK
I’m probably of a few elected politicians in the country that has a student loan and I know what it’s like to have student debt with interest increasing every year.
The Government has already moved to treble tuition fees which will have an impact on students in the future. What this move shows is that those in the future, with larger debts because of the larger tuition fees, there are greater lifetime financial risks to people having student loans.
This Tory Coalition Government needs to stop its attack on students and graduates, but young people also need to get voting on mass so that they are not disproportionately impacted by the Government.
The Coalition of cabinet millionaires just do not have a clue how difficult their intention to treble fees will make going to University for young people from middle and lower income families.
They have benefitted themselves having free higher education and now they want people to pay up to £9,000 a year in fees. If we’re all in this together, every MP who votes for the fee cap rise should pay £27,000 into the higher education system.
THIS WILL RUIN THE LIFE CHANCES OF A GENERATION!
They are intent on tackling the deficit within one Parliamentary term because they say that the economy should not be built on a foundation of debt. But they think it’s ok for young people to be consigned with debts of up to £50,000 and build their whole lives on a foundation of debt. Where is the logic in that?
When they wanted to sell these extreme cuts, the Conservative and Liberal Democrats would turn moist-eyed and say it was “immoral” to “burden the next generation with higher debts.” So as a solution they have introduced a program that will burden the next generation with much higher debts.
Johan Hari, the Independent
During the years when young people have begun to work, are at the prime age to start up families and enter the housing market for the first time, a chunk of their disposable income will be removed from them at the time when they are in most need of it as they will have to deal with their student debt – thereby affecting their future life choices.
The Lib Dem comeback seems to be that it’s all Gordon Brown and the previous Labour Government’s fault. I disagree strongly – but you can blame Gordon Brown all you want… it doesn’t change the fact that Nick Clegg lied.