Student loans branded 'biggest barrier' to higher education

Isle of Man Law Society warns long-term debt and high interest rates risk deterring students

The President of the Isle of Man Law Society says the introduction of student loans represents the biggest barrier to higher education.

Last year, government acknowledged that current funding arrangements can disadvantage students from lower-income backgrounds.

In the UK, reports have highlighted concerns from graduates who fear they may never fully repay their loans, with high interest rates adding tens of thousands of pounds to overall debt.

Appearing before the Tynwald Youth Select Committee, Chris Webb said the long-term debt implications are significant: