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Article: Students' five-year 'repayment holiday' on loans is abolished
- Article from:
- The Independent (London, England)
- Article date:
- July 21, 2009
- Author:
CopyrightCopyright 2009 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Stricter terms to help fund 10,000 extra university places,
Mandelson says
GRADUATES will no longer be able to take a five-year "repayment
holiday" on their student loans under plans to fund 10,000 extra
university places, the Government said yesterday.
Students starting degrees last year were offered an optional five-
year repayment break after graduation to ease worries about debt and
help those trying to buy a first home. But Lord Mandelson, who was
given control of higher education in last month's cabinet reshuffle,
said yesterday that the holiday was being cut to two years to help
pay for new university places.
Aaron Porter, of the National Union of Students, said the
reduction would ...