Student loan system must be fixed – Angela Rayner
Angela Rayner MP, Labour’s Shadow Education Secretary, responding to the Office for National Statistics announcement on student loan accounting records, said:
“The Office for National Statistics has confirmed that the student loans system is a fiscal illusion which flatters the government’s record and plans on the public finances. This does not give the public the full picture and must be fixed.
“With almost half the cost of the current system being subsidised by the government, it’s right that this should be made explicit rather than disguised in the official accounts.
“With a potential £12 billion hit to the deficit coming it is time for Ministers to be honest with the public and tell them how they will meet the cost of funding higher education. They also need to provide urgent assurances that students and universities will not be adversely affected by these changes.
“The current system is creating a ballooning mass of unsustainable debt. Labour would scrap tuition fees and restore maintenance grants, being up-front and honest about what this costs and how we fund it as we did in our fully-costed 2017 election manifesto.”