Corbyn Suggests Labour Would Write Off Graduate Debt

In an interview with NME, Jeremy Corbyn has suggested he could write off debts that existing students and graduates, who have been charged £9,000 per year, have from their student loans.

The Labour manifesto has already committed to scraping tuition fees, effective immediately, if Corbyn becomes Prime Minister on 9 June.  Labour say this would cost £11bn per year, however they haven't given a cost for the new plans Corbyn has put forward since the release of the manifesto.

"I Will Deal With it"

Jeremy Corbyn told NME: "There is a block of those that currently have a massive debt, and I’m looking at ways that we could reduce that, ameliorate that, lengthen the period of paying it off, or some other means of reducing that debt burden,”

“I don’t see why those that had the historical misfortune to be at university during the £9,000 period should be burdened excessively compared to those that went before or those that come after. I will deal with it"

Corbyn's comments come after an IFS report said that simply abolishing fees may be unfair to students who have already graduated, after paying £9,000 per year.   Their report said: 

"There might be concerns about the equity of this; students who paid £9,000 fees would be doubly hit by large student debts, and the tighter public finances resulting from the subsequent introduction of free tuition fees. One option would be to compensate these students by clearing or reducing their tuition fee debts. This would be extremely costly, however, as the outstanding stock of loans for these graduates is around £30 billion."

Toby Gould
Corbyn Suggests Labour Would Write Off Graduate Debt Corbyn Suggests Labour Would Write Off Graduate Debt Reviewed by Student Voices on 14:47 Rating: 5

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