Student loans: why is Martin Lewis clashing with Rachel Reeves?

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Martin Lewis, a consumer champion and founder of MoneySavingExpert.com, has found himself at odds with Chancellor Rachel Reeves over the UK government's decision to freeze the salary threshold for plan 2 student loans. For many graduates, this means that they will now have to pay even more in interest on their debt every month.

The disagreement centers around the fact that the salary threshold, above which plan 2 graduates repay 9% of anything they earn, has been frozen at £29,385 until 2030. This means that those who are already over the threshold and receive pay rises will have to repay even more, as their earnings exceed the new limit.

Lewis has stated that he does not believe it is a moral thing for the government to freeze the salary threshold in this way, citing concerns that students had a contract with the government. He added that freezing the threshold "is a breach of promise" and urged graduates to write to their MPs to express their discontent.

Reeves, on the other hand, has defended her decision, arguing that it is not right for those who do not attend university to bear all the cost for others to do so. She stated that if a graduate earns a good wage, they will be able to repay more quickly and the loan will eventually be written off.

The issue has sparked a heated debate about whether graduates should meet almost all of the cost themselves or if the government should pick up some of the bill. A recent YouGov survey found that 44% of Britons think the government should write off some or all student debt, while 41% believe graduates should have to pay back their loans as currently.

The decision by Reeves has been criticized by campaigners and students' unions, who argue that it will leave new graduates struggling to afford basic necessities. The Institute for Fiscal Studies (IFS) estimates that millions of plan 2 people will repay an extra £93 in 2027-28, rising to an extra £259 in 2029-30.

As the debate continues, politicians and campaigners will be watching closely to see if Lewis's "write to your MP" idea gains traction. The issue may shape up to be one that could cost Labour at the ballot box, as graduates become increasingly vocal about their concerns over student debt.
 
I'm getting so frustrated with this whole thing 🤯... I mean, what was the government thinking? Freezing the salary threshold like that is just not right. It's like they're trying to rob students of their hard-earned money. Remember when we used to have decent student loans and it wasn't such a big deal for us? Now, I'm reading that plan 2 graduates will be paying an extra £93 in 2027-28... that's just nuts! And what really gets me is that the government is saying if you earn a good wage, you'll be able to repay more quickly. But that's not how it works, mate! Student debt is a long-term thing and people need support. I feel like I'm stuck in some kind of time loop where we're reliving our uni days all over again... remember when we used to be able to get by on £500 a month? Those were the days... 😔
 
Ugh, can you believe this 🙄? Like, who freezes a salary threshold in the middle of the century?! It's so extra 😒. And I get it, Rachel Reeves thinks those who don't go to uni shouldn't have to foot the bill for others, but like, isn't that just kinda basic economics 101? 🤔 Newsflash: paying taxes is how we fund public services, not because you went to university or didn't.

And what really gets me is how Martin Lewis is like, "Hey, this is a moral issue!" 🙄 I mean, come on, Marty, it's just politics. But hey, if writing to MPs doesn't work out, maybe people will start showing up to the ballot box and voting with their wallets (or at least, their student loan repayments). Let's see how that plays out 🤑
 
I'm so sick of this government being so unfair to our kids! 🤯 I mean, think about it, they go off to uni and take on a tonne of debt, thinking that's what they've gotta do to get ahead. And then BAM! The threshold gets frozen and they're stuck paying even more in interest every month. It's like they're being asked to subsidise their own education or something.

I remember when I was at uni back in the day (ahem), we didn't have all these fancy loans and whatnot. We just kinda... paid our way through it, ya know? And when we graduated, that was it, no more debt. But now, it's like they're saying, "Hey, you've gotta pay this off for 20 years or more!" That's just crazy talk.

I swear, if I were a grad today, I'd be up in arms about this too. The government needs to step in and sort this out ASAP! 🚨
 
Ugh I just saw the cutest video of a puppy trying to catch its own tail 🐶😂 and it's literally making me forget about this whole thing with the student loans. Like, who has time for that? anyway... I was thinking, have you guys ever noticed how weird it is when your phone battery dies on you at exactly 8pm every night? Like, is it just a conspiracy or what? 🤔 and then you're stuck trying to find a charging station and they're all taken because everyone else's battery died too. anyway... back to the student loans... I don't know, man. It seems like the government's always finding ways to make things more complicated. Can't we just have some simple solutions for once? 🤷‍♀️
 
I gotta say, this plan 2 thing is getting out of hand 🤯. Freezing the salary threshold like that is just not right. I mean, these students are already paying a pretty penny for their education and now they're stuck with even more debt? It's crazy talk! And what's with Reeves saying those who don't attend university should foot the bill for others to go? That's just not how it works, mate 🤑.

I think Lewis has a point, though. I mean, students did sign up for these loans expecting that they'd be able to pay them off gradually as their income grew. But now it seems like the government is just trying to stick 'em with the bill 💸. And what's next? Are we gonna start seeing people getting saddled with debt for stuff they didn't even want to do in the first place?

It's all about fairness, innit? I mean, should graduates really be expected to pay off their loans almost entirely themselves, or is that just asking too much? I reckon it's time for some politicians to step up and listen to what these students have to say 🗣️. We'll see how this one plays out, but I'm not holding my breath for Reeves' plan 😐.
 
I'm literally fuming right now 🤯! So basically, I was just chatting with my friends about uni and we were all like "what's going on with these student loans?" And then I heard that the government is freezing the salary threshold for plan 2 loans until 2030... it's just not fair! I mean, I know I'm not even graduating yet but if they're making it harder for people who already did end up having to pay more, what about those of us who are coming up next? It feels like we're stuck with the bill 💸. And I don't get why Rachel Reeves thinks that's a good idea... isn't there supposed to be some kind of contract between the government and the uni students or something? 🤔
 
think this is a big deal for students coming out of uni... all they're supposed to do is work and pay off their loan? it's not fair when you consider the financial burden they'll be carrying for years after they've already paid off their degree. plus, the fact that the gov is just going to stick with this 2030 deadline without any consideration for students who are struggling now is just ridiculous. think we should be doing more to support these young people... maybe some kind of income-based repayment plan or something 🤔
 
I'm so frustrated with this move by the gov! I mean, who gets hit with more interest when they're already earning above a certain threshold? It's just not fair. 🤯 I feel like the gov is basically taking advantage of these poor graduates. They've already got enough debt to deal with without being made to pay even more. And I don't think it's right that they have to write their MPs about it, that's what we're here for! We need some real change on this. The fact that 44% of people think the gov should just wipe out the debt is telling - I reckon most people would agree with that. It's time for the gov to take responsibility for supporting our education and not leaving us high and dry 🤑
 
I don't think it's fair on those who are already above the threshold 🤔. I mean, they're not even benefiting from the freeze, right? And now we gotta pay more in interest every month? It's like, what happened to a promise? 🤑 The government should be supporting its own people, especially after all that money is invested in education 💸. I think Martin Lewis has a point about it being a breach of promise... yeah, that's the word for it 😒. Maybe we just need to get more involved and make our voices heard, like Martin said? Write to your MP and stuff 📨. It's worth a shot, right?
 
OMG u guys! 😱 I cant even believe this rn... so like, the gov is freezing the salary threshold for plan 2 loans and now grad's are gonna have to pay more in interest lol. its not right tbh - they're basically saying "sorry guys ur having probs paying back ur loan, so ur just gotta bear w/ it".

I think its a total breach of promise btw. like what even is that? u sign up for a plan and then the gov just changes the rules on u? thats not cool. And whats with Reeves defending this? doesnt she know that grad's r already struggling to make ends meet?

anywayz, I think its time 4 grad's to take action and voice their discontent 🗣️. Lewis is right in saying we should write to our MPs and get them 2 listen. who knows, maybe itll be the turning point that makes the gov change their mind 🤞. Fingers crossed for all the grads out there! 💕
 
idk how ppl r reactin to dis move by chancellor reeves 🤔... it just seems so unfair 2 those who already r payin more on plan 2 loans now they gotta deal w/ even higher interest rates lol what's the point of havin a salary threshold if its not goin 2 be adjusted 4real? 💸 i mean, lewis makes some valid points abt it b3in a breach of promise but Reeves just dont seem 2 care about the struggle 🤑... anyone else think we shud be lookin @ wya gov decided 2 freeze this threshold in the 1st place?
 
Ugh I'm so fed up with all these forums and websites 🤯. Can't we just have a simple discussion without all the drama? 🙄 The thing is, I think Martin Lewis has a point about this whole plan 2 student loan deal. It's just not right that graduates are expected to pay more and more in interest every month 🤑. And what's with the government freezing the salary threshold until 2030?! That's just cruel 💸. I mean, who doesn't want to see graduates struggling to make ends meet when they're just starting out? 😩.

And have you seen those YouGov survey results? 44% of people think the government should write off some or all student debt 🤯. What's wrong with that?! It seems like a pretty reasonable idea to me 🙏. I'm not saying it's going to be easy, but come on, can't we just find a way to make this work? 🤔.

It's just so frustrating when everyone gets all worked up about the same issue 🙄. Can't we just try to have a calm and rational discussion for once? 😒
 
🤔 I don't think it's a good look for the government freezing the salary threshold like this...it's just gonna make things worse for new grads who are already struggling to pay off their loans. And what's up with this whole "those who earn more will repay more" thing? Like, that's not how contracts work...or is it? 🤑 I think Martin Lewis has a point about this being a breach of promise, but Reeves' side of the story doesn't really hold water either. The fact that 44% of Brits want the government to write off some or all student debt says something, though... maybe there's some merit to having the gov pick up more of the cost? 🤷‍♂️ We'll see how this one plays out! 💸
 
I got a bad feeling about this 🤕... freezing the salary threshold is just gonna make things worse for plan 2 grads 😩. I mean, who thought it was a good idea to leave 'em with even more interest payments? 🤑 It's like they're being charged twice - once when they graduate and again when their pay rises 💸. And what really gets my goat is that those already above the threshold are gonna be hit hard too 🤯. I'm starting to think the gov's just trying to shaft the next gen 😒. Lewis is right, though - it is a breach of promise... they made a deal with students, and now they're just breaking it 💔. The fact that 44% of Brits think the gov should write off some or all student debt just goes to show how unpopular this policy is 🤝. I hope the pressure builds up and Lewis's "write to your MP" idea takes off 🔥... time will tell if we'll see any real change 💪
 
I'm really worried about this plan 2 student loan thing 🤕. I think it's not right that those who are already above the threshold and get a pay rise have to repay even more 💸. It seems like the government is making things worse for people who are already struggling.

Martin Lewis makes a good point when he says it's a breach of promise, but at the same time, I can see why Chancellor Reeves wants to be fair to those who don't attend university 🤝. But what about those who do? It feels like they're being penalized for something that was already going to happen.

Maybe we need to find a middle ground here 🤔. The government could consider adjusting the repayment amount instead of just freezing the threshold 📈. That way, people would still have to pay back their loans, but not as much as they would under this plan.

It's also interesting that 44% of Britons think the government should write off some or all student debt 💸. I'm definitely on that side 🤗. It feels like we're already paying enough in taxes and it's time to give something back to those who are struggling with debt 😊.
 
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