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News Tag: student loans

May 14, 2010

Students to face higher interest rates on loans

by Kay Mitchell
The Russell Group, which represents 20 elite, research-intensive universities, has suggested that graduates may have to start paying back their student loans earlier and at a higher rate of interest, in order to prevent a major funding crisis. Following an official review of student finance and fees, the group warned that the financial sustainability of the UK's top universities was ...

August 21, 2009

Student loans encourage culture of debt

by David Masters
Students are racking up crippling debts because they're not being taught the difference between student loans and other forms of credit, a financial education charity warned this week. Chris Tapp, director of Credit Action, said because it's "basically impossible" to get into difficulties with student loans, students are given the message that it’s fine to be in debt. Tapp believes students should be ...

University a “millstone” for many parents

by David Masters
The cost of putting their children through university is forcing some parents to remortgage their home, The Children's Mutual revealed this week. Students starting university this year will spend an average of £42,000 during their three-year course, and many parents will be expected to fund the majority of this bill. "University can be as much of a millstone as it is a milestone," ...

July 26, 2009

Graduates too poor to pay back student loans

by David Masters
Graduates too poor to pay back student loans
Half the university students who graduated since tuition fees were introduced are too poor to pay back their student loans. Of the 1.4 million graduates who started university after 1998, 702,000 are earning too little to pay back debt accrued whilst studying. Repayments are triggered when graduates start earning at least £15,000 per year; over half a million graduates have never ...