Tom Gordon MP calls on PM: “Commit to a genuine fix” on student finance as 10 Minute Rule Bill passed
Tom Gordon, Liberal Democrat MP, presented 10-Minute Rule Bill to review and fix the student finance today.
The Bill, co- sponsored by MPs from the Liberal Democrats, Labour, the Green Party and Plaid Cymru, calls on the Chancellor to specifically review loan terms and conditions and repayment thresholds.
Addressing the House, Tom hit out on the chilling effect the system has on social mobility dubbing it “not social mobility but social injustice, with interest”- as students with the least borrow the most, graduate with the biggest debts, and are charged interest on every penny of it.
He shared the story of his university friend whose loan balance rose by almost £2,000 whilst on maternity leave, unable to earn or make repayments.
Commenting on the Government’s response to the Treasury Select Committee’s report Student loans: Broken and Unfair?, Tom said:
“Broken and Unfair? We all know the answer is yes. The Government response was lukewarm at best.
“Burnham talked about bringing back hope, that needs to include millions of graduates who are trapped with endless governments changing the terms and conditions”.”
The Bill was passed onto second reading with potential to be debated on January 15th, subject to government support and the parliamentary schedule.
Tom Gordon said:
“My message to the Government is simple: commit to a genuine fix on student finance.
“If the Government don’t tackle this head now, they’ll create more uncertainty, leave graduates in limbo and put more and more disadvantaged young people off higher education.”
“No party can claim the moral high ground. So, every party can own the solution.”
Lord Shaffaq Mohammed, Lib Dem Spokesperson for Education in the House of Lords said:
“My son said to me: “Dad, I’m paying £170 per month, and my loan balance hasn’t changed from when I graduated, how is that fair”.
“It’s unjust. For him and the thousands who have been paying it off and have seen their balance go up because of interest rates.”