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Students would repay the loans after graduation, and only when they are earning more than £21,000. Repayments would be made at a rate of 9% on any income above £21,000. Any debt not repaid after 30 years would be written off. For comparison, the current system demands repayments of 9% on income above £15,000, and debt is written off after 25 years.
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Students would repay the loans after graduation, and only when they are earning more than £21,000. Repayments would be made at a rate of 9% on any income above £21,000. Any debt not repaid after 30 years would be written off. For comparison, the current system demands repayments of 9% on income above £15,000, and debt is written off after 25 years.
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