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.