Students in Lincolnshire reveal concerns about changes to their loans

It's claimed the changes will hit the poorest the hardest

Student working
Author: Andy MarshPublished 25th Feb 2022

It's claimed new changes to student loans will see poorer students in Lincolnshire hit hardest.

The proposed measures to extend repayments from 30 years to 40 will mean many students will be repaying their student loans well into their 60's.

Students at Lincoln University say they feel like they are facing a 'lifelong graduate tax'.

Another change will see the income threshold at which new graduates will have repay their loans reduced from ÂŁ27,295 to ÂŁ25,000.

Nat Kirchin is Vice President at Lincoln University students union she said:

"It is unfair, when you combine loans paid over a longer period and the threshold's changed it's that feeling of why is this impacting lower income people more."

"It's not affecting people who earn more and campaign more, it's affecting people who earn less and don't have that money to spare."

"The rules around getting your loans is all just impacting the higher education world and is getting further and further away from where education should be available to anyone no matter what your income is".

"It's feels like it's going back to that elitist view of higher education".

"The people who are lucky enough to have support of a family and have more money generally there'll be able to pay back their loans within the 30 years and not be impacted".

"Students who are on lower incomes and those on lower incomes once they graduate they'll be the one affected the most".

"They'll have to pay across the 40 years and won't ever earn enough to be able to repay it".

The Government says it feels the possible changes would be fairer to both students and taxpayers.