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07/07/2016
Concerns Raised Over Rise In Student Debt
Students attending universities in Northern Ireland who have started paying their loans back this year owe an average of £20,000.
According to findings from the Students Loan Company (SLC), only 24,000 out of 210,000 students who have taken loans in NI have repaid them all.
NUS-USI President Fergal McFerran said it is an "appalling situation" which must be addressed by government here urgently.
He said: "It troubles me greatly to think that society could silently watch as a generation of students are consistently being treated as a burden rather than a priority. To think that students who had to start paying back their loans this year owe an average of almost £20,000 is shocking, the fact that it's increased by over £1,500 in just one year is even more disgraceful.
"The suggestion that we should be comfortable with that figure because it may be much higher in England shouldn't be allowed to wash. There are many countries across the world which don't charge students fees at all, and provide robust financial support in the form of grants.
"Northern Ireland has devolved government for a reason and I would urge our recently elected, new Assembly and Executive to think carefully about the need to prioritise supporting students and protect them against debt that could stay with them for decades.
"As the cost of living increases and tuition fees rise with inflation, the reality we face is that student debt will burden a generation if our politicians don't act to recognise students for what they are – potentially the greatest investment a society can make."
(CD/JP)
According to findings from the Students Loan Company (SLC), only 24,000 out of 210,000 students who have taken loans in NI have repaid them all.
NUS-USI President Fergal McFerran said it is an "appalling situation" which must be addressed by government here urgently.
He said: "It troubles me greatly to think that society could silently watch as a generation of students are consistently being treated as a burden rather than a priority. To think that students who had to start paying back their loans this year owe an average of almost £20,000 is shocking, the fact that it's increased by over £1,500 in just one year is even more disgraceful.
"The suggestion that we should be comfortable with that figure because it may be much higher in England shouldn't be allowed to wash. There are many countries across the world which don't charge students fees at all, and provide robust financial support in the form of grants.
"Northern Ireland has devolved government for a reason and I would urge our recently elected, new Assembly and Executive to think carefully about the need to prioritise supporting students and protect them against debt that could stay with them for decades.
"As the cost of living increases and tuition fees rise with inflation, the reality we face is that student debt will burden a generation if our politicians don't act to recognise students for what they are – potentially the greatest investment a society can make."
(CD/JP)
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