Martin has warned that student ‘loans’ are misnamed
Martin has previously warned that student loans are misnamed and misframed as a debt.
He said in a blog earlier this year: “This is misleading, off-putting and leads to people making perverse decisions such as part-overpaying loans after graduation, even though it doesn’t result in lowering their continuing repayments.
“The system should be improved and renamed as a ‘graduate contribution system’ as in other countries.”
Last year, at a debate at the Conservative Party Conference, the then Universities Minister Jo Johnson finally agreed that student loans should be called ‘graduate contributions’, after being challenged on the point by Martin.
Johnson said at the time: “This should be seen best as a graduate contribution. It is clearly a time-limited graduate contribution, because it only lasts 30 years and it’s also an income-linked, time-limited graduate contribution.”
You can read the full details in our Student loans must no longer be called a ‘loan’, Universities Minister says MSE News story.