‘A tax on ambition’: graduates tell all to student loans inquiry

Treasury select committee hears that interest rate and repayment terms are ‘extortionate’ and ‘not reasonable’

Thousands of graduates have told an official inquiry their horror stories and bad experiences relating to student loans, underlining what the chair of an MPs’ committee called massive levels of “frustration and upset”.

Amid an ongoing row over the ballooning cost of degree course debts, more than 52,000 people responded to a call for evidence by the Commons Treasury select committee as part of its inquiry into student loans and the taxation of graduates.