The government has refused to hold an "urgent" review of the student finance system which is predicted to be carrying £330bn in loan debts by 2044.
The Commons Business, Innovation and Skills (Bis) Committee said the UK was reaching a "tipping point" for the loan system's financial viability. It had called for an urgent review of the system's sustainability, and says it is "alarming" this has been refused. The government insists there is "no immediate pressure" on the system. Currently students can take out government-funded loans to cover tuition fees, which cost up to £9,000 a year. Students from England and Wales pay back their tuition fee loans once they earn £21,000 a year; in Northern Ireland, they pay back once they earn £15,795 a year. Scottish students who study in Scotland do not pay tuition fees.....Read more here