Graduates Are Going To Have To Repay More On Their Student Loans
The figures were buried in the small print of George Osborne’s Autumn Statement.
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Chancellor George Osborne is freezing the "student loan repayment threshold" until April 2021. The statement was buried in the small print of his Autumn Statement on Wednesday.
It means that he has decided to go ahead with plans, revealed by BuzzFeed News last month, to increase the amount most students will repay each year in order to reduce the balance of student debt.
That is despite 84% of respondents opposing the move in a government consultation.
The Department for Business, Innovation and Skills disclosed earlier this month that "of the 489 responses received, 410 did not support Option 1". Only 5% were in favour.
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