May 3, 2023
Wales’s student support repayment system has historically been aligned to England’s, but continuing this would mean Welsh students would repay loans over a longer period of time.
The current progressive system of student finance means that Welsh undergraduate students have less to repay on average than their English peers as the Welsh Government continue to provide non-repayable grants.
Jeremy Miles, Minister for Education and Welsh Language said:
“The UK Government’s regressive reforms benefit the highest earners and worsen the position of middle and lower earning graduates.
“Though Wales’ repayment system has historically been aligned to England’s, my view is that the new system in England is not a good deal.
“The reforms benefit the highest earners and worsen the position for middle and lower earning graduates. Women are also disproportionately affected.
“We certainly shouldn’t be asking teachers, nurses and social workers to pay more, while the highest earners pay less.
“I can therefore announce today that we will not move to the system adopted in England but will retain the current system. This means Welsh graduates will continue to repay loans for a 30-year repayment period rather than 40-years as will be the case in England.”