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Students in England now graduate with average debt of £53,000, data shows
(www.theguardian.com)
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this post was submitted on 22 Jun 2025
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People will blame Nick Cleggs Lib Dems for this and yeah they play a big part in this, but the root cause is further back.
Tony Blair removed the cap on the number of students who could go to university which lead to introducing tuition fees. Before then you used to get a grant, I got three grand a year, to go to university.
Suddenly universities could massively increase the number places so they did. This lead to spiralling costs, which lead to fees going up and loans had to go up to cover this. They also borrowed heavily to expand.
David Cameron removed the cap on fees while increasing the money students could borrow with Cleggs backing (against a key Lib Dem manifesto pledge fucking the Lib Dems for years after) and Universities started getting properly greedy.
Inflation kicked in but the loans available to students didn't because the government couldn't afford to, majority of students never pay back the full amount before its written off. Student loan book is set to be a trillion pounds in about 20 years.
The whole situation is fucked because Blair said anyone could go, rather than being honest about what we could afford to pay for. Now we have a ticking timebomb that someone's going to have to pay.