It is bad news for students who wish to study by taking education loans. The recent issue of Student Debt Survey says that the expected debt that a student is likely to pay at the end of the education has been increased by 5.4% since 2009. As a result, students would have to pay a whopping £25,000 as debt at the end of the education.
The reason is that although Student Loan Company helps them to pay their fees, the students are finding it difficult to live on the money provided. Hence they take extra loans through other sources, which are leaving them with mounting debts at the end of the education.
The government’s proposed graduation tax is not a proper solution for this situation. According to this proposal, the student can pay the debt later when he or she is working, but the amount payable would be much larger than the actual debt. This situation will definitely have an impact on the student community, which will think twice before going for further education.
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