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21ST AUG 2008
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Almost 31,000 graduates have a studentloan debt of more than £10,000,
according to official figures revealed today.
Statistics from the Executive show that the Student Loans Company is
owed at least that amount by 30,990 individual customers.
Of those, a further 11,416 owe more than £15,000, while 2,015 have
accumulated debt of at least £20,000.
And a further 240 owe the company at least £25,000 from going on to
further studies after leaving school.
The figures emerged in a parliamentary answer to a question from the
SNP's Maureen Watt.
The North East Scotland region MSP said: "These figures demonstrate the
extent of the graduate debt problem in the starkest possible terms.
"To have such a large number of people saddled with such a huge burden
of debt is a damning indictment of the policies of the Labour and
Liberal Democrat Executive.
"Student loan debt stifles Scotland's economy, as too many young people
find themselves graduating from university with the millstone of debt
around their necks.
"When you include the backdoor tuition fee called the graduate
endowment, then even more debt is being piled on top of these figures."
Ms Watt's party is promising to pay off the student loans of those who
stay in Scotland after graduation if they win next May's Holyrood
election.
The SNP is committed to replacing loans with grants at the same level
for future students.
The party is also promising a £2,000 "first home grant" for young Scots
trying to get on the property ladder.
Ms Watt added: "It's time to bring an end to this disgraceful situation,
where the young, vibrant graduates, on whom our economy will depend in
the future, are being held back from fulfilling their potential as a
result of the discredited student loan system.
"It's time to abolish loans, bring back grants, and remove the spectre
of debt from the graduates of the future."
Deputy minister for lifelong learning Allan Wilson defended the current
system.
He pointed out that tuition fees had been abolished and the executive
provides bursaries to students from low income backgrounds.
The minister also insisted that student loans are more manageable than
their commercial equivalent as they are only repaid when earnings reach
a particular level.
Mr Wilson added: "Surveys show that students in Scotland graduate with
substantially lower levels of debt than those from England and Wales.
"Proposals to write off student debt and convert loans to grants are
unaffordable and regressive, assisting the better off at the expense of
hard working families.
"Replacing loans with grants will do nothing to widen access or increase
retention. The key issue is targeting bursary support at those who need
it most."
Related Links
Student News
Student Debt Reduction Solution (SDRS)
Bill Rammell refuses to Discuss Student Debt Reduction Solution
Boris Johnson MP Agrees To Support The Student Debt Reduction Solution (SDRS)
Provided by The Student Zone (United Kingdom) |
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