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.
Under 27s can now join the Labour Party for 1p. The offer lasts until May, but it will be the best penny you will ever spend. It’s hard being a young person in Brent today. I left University with a debt well into 5 figures. Now that I am working, I get money directly taken away from my salary and given to the Student Loans Company. Take it from my own experience. It’s hard.
Under Lib Dem and Tory plans which will treble tuition fees, an even bigger chunk will be taken away from people’s wages which will affect the life decisions that people make. It could determine where people can realistically afford to live. What goods they want to buy. What they can afford for their new born children. For that reason, I think it’s wrong what the Coalition Government are doing to young people in Britain today.
You can make a difference by becoming actively involved in politics and joining a Party that has treated me as a young person in Britain today well. I have always felt welcome in the Brent Labour Party and I hope to stand by and support other young people who wish to join me and take up the offer of becoming a Labour Party member for 1p. Click here to join
… and it’s never been a more better time for young people to join the Labour Party in Brent. We have recently set up Brent Young Labour which serves to be the young wing of the Party in Brent. It gives young people the opportunity to have a meaningful collective voice within the Party as well as to interact with eachother and build confidence to reach their aspirations in life.