Readers have responded to a recent article on student loan debt, highlighting the lifelong burden faced by graduates from the 1998 to 2006 cohort. Unlike later loans that are written off after 20 or 30 years, these older loans remain until age 65, with interest more than doubling the original amount.
One reader, Gina Tsang from Liverpool, explains that she began her studies in 1999 as part of the New Labour push to widen access to university. She and many working-class friends took years to earn consistently above the repayment threshold, while others in their 40s have still never reached it. The lack of a fixed write-off date means they carry the psychological burden of debt through the most expensive years of life.
Norman Gowar, Emeritus Professor at the University of London, proposes a zero-interest regime to remove inter-cohort inequities. He argues that under the current system, high earners pay off loans quickly while lower earners pay more due to accrued interest. Zero interest would mean everyone pays the same for the same product, reduce write-offs, and cut costs for the Student Loans Company.
Another reader, Debbie Balderston from Kingswinford, notes that many young people use maintenance loans to pay rent to private landlords, effectively subsidised by taxpayers. She questions the fairness of landlords enjoying equity gains while young people shoulder debt and struggle to buy homes, suggesting a tax on equity to reduce the debt burden.
