The average university student graduates with a debt of around £50,000. This is partly because the interest rates can soar past 6%, as they're pegged to the RPI plus the additional 3%. This rate often far surpasses inflation and average wage growth, making it nearly impossible for many to keep up with repayments, let alone reduce the principal amount owed.

• Graduates can repay for decades and end up owing more than they originally borrowed.
• The extra 3% is applied on top of an already-criticised inflation measure (RPI).
• Those who could afford fees upfront pay zero interest while others face compounding debt.
• The repayment threshold sits just above the living wage, meaning ordinary workers, not just high earners, are affected.

The policies surrounding student loans should support, not hinder, the educational attainment and economic potential of the young population. The current approach leaves graduates trapped in a cycle of debt repayment that's not only financially draining but also mentally and emotionally taxing. 

Ministers have the power to reallocate interest calculations to a fairer system, aligning with either the Consumer Price Index (CPI) or eliminating the added 3% on RPI altogether. This immediate policy shift can lead to significant relief for current and future borrowers and demonstrate a commitment to fostering an education system that facilitates rather than burdens.

By scrapping the additional 3%, not only can we alleviate the financial anxiety faced by millions but also promote an environment where further education is an accessible, rewarding choice, not a financial liability. This change is swift and actionable, requiring no more than the political will to stand behind those who will drive the future of our country.

Please join me in calling on the UK Government to remove the 3% RPI top-up on Plan 2 student loans. Stand with students and graduates across the UK in pursuing a fair and just education financing system. Your signature could be the catalyst for change we desperately need.