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Phillipson defends student loan change and says average repayments will rise by £8 a month

BBC News·@Bbc·2 months ago
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Education Secretary Bridget Phillipson has defended freezing the repayment threshold for student loans in England, saying graduates will only pay back £8 more a month on average. She said ministers would look again at the issue, but added that "there are challenges across education and government and we can't fix everything at once". Speaking to BBC Breakfast, she confirmed that the threshold at which graduates begin to repay their Plan 2 loans will increase as expected in April, before the freeze comes into effect next year. It comes after some graduates told the BBC that student loan repayments linked to their income had led them to cut their work hours and slash their salaries. Tinuke Bamiro, 24, says money she makes from social media videos on top of her consulting job has pushed her into the higher-rate tax band, meaning she pays 40p in tax for every £1 she earns between £50,271 and £125,140.…

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