Fees will rise next year from £9,250 to £9,535 - but graduates are unlikely to feel the impact until their 40s
Fees will rise next year from £9,250 to £9,535 - but graduates are unlikely to feel the impact until their 40sIt means the average graduate will accumulate an extra £855 in debt – however they are unlikely to notice any difference in their student loan repayments until their forties.From September 2025, tuition fees will rise in line with the RPIX rate of inflation – 3.1 per cent.
Under the current system, graduates only start repaying these loans once their income exceeds £25,000 per year. Repayments are calculated at 9 per cent on everything earned above the threshold. It estimated that one in five students will never pay more due to the increase, as student loans are written off after 40 years in England – regardless of how much remains owed.
Sir Keir justified the decision by claiming that financial constraints meant a Labour Government would be unable fulfill its priority of tackling NHS waiting lists if it also abolished tuition fees.An Office for Students report in May found that 40 per cent of universities are expected to run a budget deficit this academic year.
Universities saw their costs rise but they been unable generate additional income by raising tuition fees, leaving them making a loss on domestic students.
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