Swann backs cross-party motion to reform student finance system

South Antrim MP Robin Swann has sponsored a cross-party motion in Parliament calling for an immediate overhaul of the student finance system.

The motion follows data showing that current repayment thresholds are on track to reach parity with the minimum wage by 2031. Mr Swann warned that the current model, which has seen maintenance grants abolished and repayment periods extended, is no longer fit for purpose and is unfairly penalising graduates.

The motion outlines several urgent reforms, including the reintroduction of maintenance grants and unfreezing the income thresholds that dictate when graduates begin repayments. It also proposes a debt relief scheme where a portion of student debt is written off for those working in the NHS, education, the armed forces and the emergency services.

Commenting on the motion, Mr Swann said:

"The current system is broken and is hitting young people at a time when they can least afford it. The steady erosion of support and the freezing of thresholds mean graduates are paying back more of their income sooner. This creates a huge financial burden and acts as a barrier to those from lower-income households who want to progress in life.

"We need to take the politics out of student finance. I am backing the call for a Royal Commission to build a proper, cross-party agreement on a system that is stable and fair. We must look at interest rates and create a repayment system that does not change when the party of government does. Our young people need a clear, long-term plan for the future."