In light of the student loan reforms, will you be rethinking that gap year?

MSE_Laura_F

Today the Government announced changes to England's student loan system that will drastically increase costs for attending university. Some key points:

• The repayment threshold will be lowered to £25,000 a year.
• The length of time over which graduates repay their loans will be increased by 10 years.
• These changes will affect anyone starting uni from September 2023.

Martin Lewis has given his thoughts and analysis on the reforms.

"So to anyone who finishes school this year and plans on taking a gap year to start in 2023, it's worth having a think," he says. "For most, starting this year will save you thousands of pounds over your working life compared to delaying."

Had you, your kids or your friends planned on taking a gap year this year and starting uni next year? In light of this news, will you/they be rethinking those plans? If not, why not? What are the other factors you're taking into account?

Thank you,

MSE Laura F