Move would save Treasury as much as £2bn a year but would hit lower earners hardest
Students in England have reacted with anger to reports that the government is planning to make them start paying back their loans earlier in their careers when salaries are lower, as part of an overhaul of student financing designed to save the Treasury money.
According to a report in the Financial Times, ministers are considering cutting the threshold at which graduates begin to repay their tuition and maintenance loans from £27,295 – the current point at which repayments begin – to as low as £23,000.
