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Maajid Nawaz On The Psychological Impacts Of Student Debt
26 May 2019, 18:28 | Updated: 26 May 2019, 18:46
Maajid Nawaz takes aim at student debt, arguing that it is not right for students to start off life with £50k worth of debt.
A report into higher education is calling for annual tuition fees to be cut to £7,500 and interest rates on student loans to be reduced from 6.3% to 1.5% to ease financial pressures on recent graduates.
And in agreement to the recommendations, Maajid Nawaz said that teaching young people that it's good to start off life with £50k debt is not what you'd expect, and isn't a good way to manage personal finance.
"It's worse than the just the fact that they're in this debt, it is the psychological impact of feeling poor, feeling like you're in debt," he said.
"I've never thought that that would be a good idea to teach them that the way to get ahead in life is to be in so much debt that you can never imagine repaying it?
"Because even five years after your graduation, you're still earning less than £25k and that's just life?"
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