Martin Lewis has listed some big changes to student loans and advised on just how much of an impact it will have on future students' finances, as student loans look set to double from September 2023. The Money Saving Expert spoke recently on ITV's Good Morning Britain where Susannah Reid asked him about "the biggest change to English student finance in a decade".
Dubbing it more of a long-term cost change rather than a simple increase in tuition fees, he told his co-host - and viewers at home - that there will be three main changes coming in for new starters in England in September and added that those already at university will not be affected by the changes.
He went on to say that those already at university will remain on 'Plan 2 loans' while the new loans would be known as 'Plan 5 loans'. Speaking on the episode on Wednesday, May 3, he said: "Now, the three big changes - two are negative for students, but good for the taxpayer one could argue.
