Lib Dems approve plan to fix the broken student loan system
EMBARGO: Immediate Release
Lib Dems approve plan to fix the broken student loan system
The Liberal Democrats have today passed a major motion at their party conference, committing to a transformative overhaul of the university sector and student finance.
The party would reverse Labour’s threshold freeze, and then uprating them with average income every year thereafter, Liberal Democrats would save graduates thousands over the lifetime of their loan, with lower-middle income graduates saving up to £14,000.
Under the newly adopted policy, the Liberal Democrats have also pledged to immediately restore maintenance grants of £3,500 for students from disadvantaged backgrounds, regardless of their field of study.
The motion outlines a plan to establish an independent body to oversee student loan terms, protecting graduates from the retrospective changes to interest rates and repayment thresholds.
Liberal Democrats have called to fix the foundations of the university sector, outlining plans to make universities the growth engines of research and innovation, and to champion a more flexible approach to higher education by integrating Further Education and Higher Education into a seamless, lifelong system where students utilise modular credits throughout their careers.
Liberal Democrat Universities Spokesperson Ian Sollom MP said:
"Today’s vote cements a turning point in our fight to fix the broken system that has seen so many graduates become trapped in a cycle of soaring monthly payments.
“Labour are simply ignoring the scale of the crisis, whilst the Conservatives are only interested in looking after those at the top.
“We’ve learned the lessons of the past, and have today come forward with pragmatic solutions that put thousands of pounds back in the pockets of graduates, restore maintenance grants for the poorest students, and drive innovation at our world-leading universities.
“Liberal Democrats will continue to fight for a fairer future for graduates.”
ENDS
Notes to Editor:
The Liberal Democrat University Spokesperson paper can be found here.
