Our response to the Treasury Committee’s student loans inquiry
The Treasury Committee have published the open submissions from their student loans inquiry call for evidence. RGSUs have contributed to the debate, urging the government to reform the system to move towards a reasonable system for applicants, students, and graduates across the Russell Group.
A spokesperson said:
RGSUs welcome the Treasury Committee’s student loan inquiry, which comes at a critical moment for students, graduates, and policymakers alike. The inquiry reflects a growing recognition that the current student loan system is failing borrowers: it is poorly communicated, excessively costly, and often subject to retrospective changes made without consultation.
As the collective of Students' Unions across the Russell Group, we support a student finance system that expands access to higher education for everyone with the ability and ambition to benefit from it. That system must reflect the realities of modern higher education and treat borrowers with fairness, transparency, and respect.
Currently, the student loan landscape is punishing ambition and risks undermining significant progress the sector has made in widening access and participation. There are multiple steps that the Government can commit to, preventing further damage to the image and value of higher education.
We are calling on the government to:
Reverse the recent changes to repayment thresholds for Plan 2 borrowers so they better reflect current wage levels
Align student loan interest rates with CPI rather than the outdated RPI measure
Improve communication and transparency for prospective students and existing borrowers
Increase public investment in higher education to reduce reliance on high tuition fees over the long term
Read our full response here: