The consumer finance champion says most university leavers will spend the rest of their working lives paying off the cost of higher education
• Read more: richer graduates in England will pay less for degree than poorer students
The consumer finance champion Martin Lewis has highlighted the impact of the new arrangements for student loans, saying some school-leavers may no longer consider a degree is worth the cost.
“There is a fundamental misunderstanding about how student loans work, because they are demonised as debt, but under this plan they will work far more like a graduate tax. For most people, it will be like a 9% additional tax burden above the £25,000 threshold.
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