Student loan changes hit lower earners harder than first thought – IFS

For students starting university next year, the repayment term for loans will be extended from 30 to 40 years after graduation. Photograph: Chris Radburn/PA

Changes to student loans in England announced by the government last week will hit lower-earning graduates even harder than first feared, costing them an extra £28,000, according to updated analysis by the Institute for Fiscal Studies.

The IFS had previously calculated that lower- and middle-earning graduates would end up paying an additional £15,000-£19,000 towards their loan over their lifetime as a result of the changes, while the highest earners stood to benefit.