This week, student loans were placed under the parliamentary microscope, as a Treasury Committee meeting addressed what many have called a ‘broken’ system.
The Department for Education minister for skills Baroness Smith of Malvern backed-up Labour's decision to freeze repayment thresholds, saying that it did not break the system. HM Treasury chief secretary to the Treasury Lucy Rigby stressed that the current state of the student loan system is "not design choices we [the current government] have made, these are design choices we have inherited". As a former student holding this debt myself, having taken out a Plan 2 loan, I couldn't help but think about the role that financial advisers could play. My student loan balance remains one...
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