Experts have said the student loan system 'desperately needs radical reform'
A change to how all university graduates repay their student loans has been proposed by a former government adviser. Tim Leunig, an economist and an adviser to the Treasury and the Department for Education under the Conservatives, has said graduates should repay at least £10 a week. His suggestion was published alongside a 10-point plan for “fixing” weaknesses found within the student finance system in England, as reported by PA.
Other proposals in the paper by the economist include a 1% “surcharge” payable by employers when they hire a graduate and new maintenance grants of around £11,000 for students whose families have incomes below £25,000. The report calls for a £2,000 per student rise in university funding funded directly by the government rather than by increased tuition fees.
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