Your representatives attended a graduation-themed day of action on Monday 19th October to highlight the burden of student debt, alongside MPs, student leaders and national media on the impact of Student Loans debt ahead of the budget.
Students Take Student Debt to Westminster Ahead of the Autumn Budget
Students, and our student leaders and MPs gathered in Westminster today, Monday 19 October, for the National Union of Students’ Student Loans Autumn Budget Action Day. The aim was to push student finance up the political agenda before the Chancellor’s Budget.
The event began at 11:30am at Old Palace Yard, beside the King George V statue opposite Parliament. It was graduation-themed, and those taking part were encouraged to come dressed as they would for their own graduation.
Why it matters
The day is part of NUS’s wider Don’t Freeze Our Futures: Fix Student Loans campaign. NUS argues the current system is no longer fair or fit for purpose and works as a stealth tax on graduates.
The campaign focuses on two problems. First, the freeze on repayment thresholds means graduates on Plan 2 loans start repaying at lower real earnings as wages rise, so more of their income goes on repayments. Second, high interest rates mean that for many graduates the balance grows faster than they can pay it off.
What NUS is asking for
NUS is calling on the Chancellor to:
- Reverse the freeze on student loan repayment thresholds
- Reform interest rates so balances don’t grow faster than repayments
- Introduce clearer, fairer terms that don’t penalise lower and middle earners
Find out more from the NUS here: Petition - Don't Freeze our Futures: Fix Student Loans - NUS UK
Pictured Left to Right (Zain - Vice President Students Union, Ihsan - London Site Rep, Chloe - Vice President Students Union, Tasha - President Students Union)
