The UK Education Secretary, Estelle Morris, has confirmed that the controversial graduate loans system is set to be replaced by a new maintenance grant procedure which allows students to pay back the money in the form of an additional tax when they graduate and embark on their careers.
Ms Morris said: 'It was clear during the general election that student debt was a major issue. I recognise that for many low income families fear of debt is a worry and could act as a barrier to higher education. Our aim is to get more children from less privileged backgrounds into higher education.'
The government is considering two options for the new system: a maintenance grant repayable over 25 years, or a means-tested grant offered to students financed by a tax on all employed graduates.
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