On Wednesday 11th March, NUS organised a National Lobby Day in Parliament to speak up about the current student loans offer and its problematic nature. Our SU Executive Officers went down to London to participate in this movement, and they successfully met with our Leicester South MP, Shokat Adam.
During their discussion, Matt, Cleo, and Aishwarya raised some key issues regarding the student loans system:
- The financial burden on graduates is overwhelming. With interest rates set at an unnecessarily high 6.2% and the repayment threshold frozen at £28K, many graduates are being pushed into deeper financial strain. These policies mean that those already struggling with living costs are being required to repay more, and for longer.
- The current system also threatens the stability of universities. As future student numbers are most likely to fall, institutions across the higher education sector, who are already under significant pressure, face serious financial risks.
- The student loan system disproportionately harms lower‑income students and women. Students from low‑income backgrounds often receive larger maintenance loans, which generate higher levels of interest. Women are also more likely to repay more overall, due to factors such as career breaks (e.g., maternity leave), during which interest continues to accumulate. This unequal impact highlights major issues within the system.
You can find more information on the key points raised by officers nationwide here.
Officers from across the country also gathered outside MPs’ offices to ensure every representative heard the message — whether a meeting took place or not.
Overall, the day saw strong attendance and delivered a major achievement: Officers secured a Parliamentary inquiry into the student loans system. This inquiry will bring together a selection of MPs from various parties to discuss and examine student loans. To carry out this work, they are now calling for evidence from organisations and individuals across the country. Once reviewed, the committee will present the government with a set of informed recommendations.
You can now submit evidence to help shape the future of student finance. Share your story to make real impact and enact change. Submit your evidence here.
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If you have any questions about this process don’t hesitate to get in touch with us at su-exec@leicester.ac.uk.