Graduates are right to be furious about student loans
From our UK edition
When I was seventeen, I signed up for a student loan to cover the cost of going to university. Teachers, parents and the university system were in unanimous agreement that the loan was a good deal, enabling me to study and then pay back what I owed once I started earning a good salary. I was not told that going to university would mean allowing the state to seize arbitrary amounts of my income to plug gaps in its budget for most of the rest of my working life. But that is what is happening, as is quite transparently admitted by the current government. Those on a Plan 2 loan, like me, have nine per cent of all income over a threshold – currently £28,470 – taken in repayments from their payslip each month.