US EditionMartin Lewis Blasts Rachel Reeves and Calls for Big Change to 'Nightmare' System
Martin Lewis calls the freeze of Plan 2 student loan repayment thresholds a breach of contract that will increase costs for lower and middle earners over 30 years.
- On Monday , Martin Lewis, consumer champion, urged Chancellor Rachel Reeves to reverse student-loan changes announced in the November budget on ITV’s Good Morning Britain.
- The autumn budget froze Plan 2 repayment and interest-rate thresholds at the April 2026 level for three years instead of uprating them with inflation.
- Lewis argued the freeze amounts to a unilateral breach of contract, warning lower- and middle-earning graduates will pay more each year for 30 years and suffer psychological strain from the chaotic student finance system.
- Following student protests, Lewis confronted Kemi Badenoch on TV, pressing her on raising the student loan repayment threshold during an interview earlier this week.
- Lewis suggested raising the threshold to '40 grand', so Plan 2 loans borrowers repay 9% only on earnings above that, and said the Financial Conduct Authority would strike down unilateral changes.
11 Articles
11 Articles
The public is turning against the student loans system
The distortions of the student loans system have snowballed from a much-ignored gripe of young graduates to a headline political issue, and the public is starting to take notice. A set of terms dreamt up during the first year of the coalition government and implemented for English and Welsh students starting university after September 2012 are for the first time being examined with the scrutiny they deserve. Everything from the exorbitant intere…
Martin Lewis blasts Rachel Reeves and calls for big change to 'nightmare' system
The student loans system is a "nightmare" and a "mess", consumer champion Martin Lewis has declared. Mr Lewis highlighted controversial Plan 2 loans during his appearance on ITV's Good Morning Britain on Monday.
A recent budget measure for student loans contracted in the 2010s is fuelling the anger of millions of young adults: the freeze on the income floor beyond which repayments begin, as amended in November 2025.
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