A senior minister today defended a meagre cut to crippling student loan interest rates, saying public cash was needed to pay benefits instead of helping graduates.
Lucy Rigby cited funding for scrapping the two-child benefit limit when grilled over the government’s 6 per cent cap on the rate paid on Plan B loans by tens of thousands of graduates .
While the change means the rate is lower than it would have been under the previous system, critics have said it is still too high and will benefit well-off graduates more than those from poorer backgrounds.
Appearing in front of MPs alongside Skills
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