The ever excellent MoneySavingExpert - Martin Lewis - has launched a campaign to rename student loans - graduate contributions. For two years he has been trying to explain the new student finance system and keeps coming across young people who are being put off university becauseof fears of going into debt.
Martin Lewis says of the new system:
But Lewis is right - the name is important - and a formal change to 'graduate contribution' should be made as soon as possible. Over to you Vince.
Martin Lewis says of the new system:
"Labour and the National Union of Students (NUS) on the other hand want a graduate tax. Frankly, in reality, that’s close to what we have now, as the repayments are more like a tax than a loan."Perhaps if Clegg and the Parliamentary party had been a bit more bullish about the changes - instead of the defensive dithering that ended up with Clegg's mea culpa - then Lewis' campaign would be unneccessary.
But Lewis is right - the name is important - and a formal change to 'graduate contribution' should be made as soon as possible. Over to you Vince.
Absolutely. That way the Lib Dems will be able to claim that they achieved something whilst in government: inventing a new euphimism. Hacker would be so proud!
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