Graduates 'struggle to repay loans'

Despite their best efforts, a large number of UK graduates might fail to ever fully repay their tuition fee loans, according to a financial expert.

Martin Lewis of MoneySavingExpert.com said that even after three decades, people with wages of £30,000 a year might fall short in their attempts to make full loan repayments.

Although loan sizes can vary depending on the type of course people study while at university, Mr Lewis indicated that their repayments do not tend to differ much.

Next year will see the introduction of much higher tuition fees in England, with the UK Government allowing many higher education institutions to charge £9,000 as standard.

MPs agreed to the student finance reforms last December, with fees now due to triple in some instances.

Concerns have been raised that this move could price some poorer students out of the university system.

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