Change will see many paying for their degree until retirement in what has been called a ‘lifelong graduate tax’
Students in England will have to pay back university loans over 40 years instead of 30 under swingeing reforms designed to save the Treasury tens of billions of pounds.
The number of students expected to pay back their loan in full is expected to double from under a quarter (23%) to more than half (52%) as a result of the changes, which will see many graduates paying for their degree until retirement in what was described as a “lifelong graduate tax”.