Student loans: ‘My debt rose £20,000 to £77,000 even though I’m paying’

The article discusses the growing burden of student loan debt in the UK, focusing on the experiences of graduates with Plan 2 loans. Helen Lambert, an NHS nurse, illustrates the issue, as her debt has increased by £20,000 despite making regular repayments since 2021. High interest rates, sometimes exceeding £400 per month, contribute to the debt's growth, overshadowing her monthly payments. The article highlights that the freezing of the salary threshold for Plan 2 loan repayments further exacerbates the financial strain on graduates. Labour MP Nadia Whittome shares a similar experience, having only reduced her debt by £1,000 after six years of repayments. This has led to renewed calls for student loans to be rebranded as a graduate tax, reflecting the nature of the repayment system.

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