The debate around student loan repayments has been thundering on, as leader of the Conservative party, Kemi Badenoch, questioned if the prime minister would ‘make another u-turn’ at this week’s Spring Statement to ‘fix the student loan system’.

Much of the furore around student loans focuses on Plan 2 student loans, taken out by an estimated 5.78m undergraduates who started university between 2012 and 2023. The controversy lies in the interest charged on these loans as graduates are charged at the RPI rate, plus up to 3%, depending on the amount they are earning, meaning some graduates are paying up to 6.2% interest.