A more progressive student loan repayment system would cut the gap in debt between England’s poorest and richest graduates, and come at no additional cost to the Exchequer, according to new research.
The Sutton Trust’s report finds that since the abolition of maintenance grants in England, students from lower-income backgrounds have been leaving university with the highest levels of debt.
New analysis by London Economics for the non-profit organisation estimates that poorer students could graduate with £60,100 of debt, 38 per cent more than those from wealthier families – mostly because of the need to take out maintenance loans.
The Sutton Trust says these students are also less able to rely on family members for support, and are struggling to cover basic living costs, because loans have not kept pace with rocketing inflation.
