🎓 Attention Welsh Graduates: Time to Rethink Student Loan Repayments! 📚
Heads up, everyone! NUS Cymru is calling for a change to the student loan repayment threshold in Wales. Currently, Welsh grads start repaying their loans when they earn over £28,470 annually. Meanwhile, our neighbours in England see their threshold frozen for the next three years.
Here’s the deal: The average student debt is a staggering £53,000. Many grads are feeling the pinch, living paycheque to paycheque while their debt continues to climb. President Deio Owen of NUS Cymru shared his personal university experience, saying, “University changed my life for the better, but checking my loan balance sure gives me a fright!” 😬
Why raise the threshold, you ask? The aim is to give graduates crucial time to establish themselves in their careers before they start repaying loans. As wages rise with inflation, even those earning just above minimum wage could end up making payments. This isn’t just about the individuals—it’s a societal gain! Today’s grads are tomorrow’s teachers, nurses, and architects.
NUS Cymru argues that raising the repayment threshold would provide much-needed breathing room. It’s a call for the Welsh Government to lead the way and support young people as they invest in their futures.
How do you feel about this? Could higher thresholds provide the relief grads need? Share your thoughts below! 👇 #StudentLoans #WelshGradSupport #EducationMatters