DAUK is backing a campaign by The Times and Sunday Times to End the Graduate Rip-Off.
The campaign demands urgent reform of the student loan system in England and Wales, in particular the terms of Plan 2 loans, taken out by students who began university between 2012 and July 2023.
The campaign urges the government to:
• End the freeze on the salary repayment threshold
• Cut interest rates
• Introduce a lifetime cap on total interest paid
Dr Steve Taylor, DAUK’s GP co-lead, spoke to The Times for their latest campaign article, which highlights the burden of student debt on medics.
He said: “Probably of all graduates, doctors are among the ones who are going to be able to clear their debts, but that means that £100,000 loan will become £200,000 that is actually paid off. That’s money they’ve lost over their entire careers, in addition to being paid less than my generation.
“I went to medical school and I had free education. I had a student grant. I came out of university with no debt and started a career that has done pretty well over 30 years. How have we allowed 4.5 million young people to be shouldered with this dreadful system?”
Dr Taylor has previously called on the government to address student loan forgiveness for resident doctors.
Writing about ‘the student loan scandal’ on the DAUK Substack, Dr Taylor said: “Offering student loan forgiveness would be low cost to the treasury now, yet it would bring immediate relief for UK graduates working in NHS with money in their pockets.”
“Effectively a pay rise now and in future earnings, which will support UK graduates in their careers.”
He renewed that call in The Times, saying: “I’ve not quite understood why it hasn’t been part of the conversation. I suspect because it would create a contagion.”
Read The Times article in full.
Find out more about The Times and Sunday Times End the Graduate Rip-Off campaign.
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