The current student loan system is not just a burden on graduates; it's a barrier to our country's prosperity. The high interest rates charged are fundamentally unfair, acting as a penalty on aspiration and saddling young professionals with unsustainable debt before their careers have even begun.

This financial pressure has clear, damaging consequences, as seen with junior doctors, where the weight of five years of tuition fees is a significant factor driving industrial action.

A fair system would not punish those who repay their loans to cover the costs of those who don't. The interest rate on student loans should be drastically reduced to reflect the actual cost of government borrowing, not used as a stealth tax. Or being seen to be paying higher interest on the loan as others will default, so good payers, paying for the non-payers.

This single change would make higher education more affordable, reduce the financial strain on our essential public sector workers, and create a fairer system for the next generation.