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Rich will pay back less student debt, says new report

19 September 2011 | last updated: 11 December 2015

Rich people will end up paying less than the middle classes for tuition fees because they will clear their debts quicker and avoid bigger interest payments, a new report said today.

Responding to the report from Grant Thornton, UCU general secretary, Sally Hunt, said: 'Under the coalition's regressive university funding policies people will be saddled with bigger debts that accrue higher interest and take longer to pay off.
 
'While the big earners will be able to clear their debts the quickest, and avoid the new punitive rates of interest on student debt, middle earners will face decades of repayments. Social workers and teachers will still be paying back the big debts long after the investment banker's account has been settled.'

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