Student loans have screwed over a generation
The Politics Show
The New Statesman
4.2 • 1.5K Ratings
🗓️ 20 January 2026
⏱️ 32 minutes
🧾️ Download transcript
Summary
Cast your mind back to 2010…
Apple launched the ipad, a volcano erupted in Iceland and David Cameron and Nick Clegg passed a bill that would screw over a generation of young people.
This was, of course, the decision to triple university tuition fees in England to £9,000 per year
Oli Dugmore is joined by Rachel Cunliffe to discuss how this has radicalised graduates.
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Transcript
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| 0:00.0 | The New Statesman. |
| 0:06.8 | Cast your mind back to 2010. |
| 0:09.9 | Apple launched the iPad, a volcano erupted in Iceland, and David Cameron and Nick |
| 0:14.8 | Clegg passed a bill that would screw over a generation of young people. |
| 0:18.3 | I'm talking, of course, about the increase of university |
| 0:21.0 | tuition fees in England at £9,000 per year, joining me to discuss how this is radicalised graduates. |
| 0:26.9 | Radicalised a generation, I think. Is Rachel Cundleff? Hello, Rachel. |
| 0:30.2 | Hello, including you. Yeah, I am radicalised by this. I mean, I've put my cards on the table. |
| 0:35.7 | I was in the 2012 cohort i actually i actually |
| 0:40.2 | bunked off school rachel uh in 2010 to attend the fees protests um got a train down to |
| 0:46.4 | london with my mate was at millbank tower whole nine yards it was kind of my sort of political |
| 0:51.3 | epiphany really it was my your awakening yeah i think so i mean to of my sort of political epiphany, really. It was my... Your awakening. Yeah, I think so. I mean, to just really sort of start the episode by pissing me off, how much poorer will I be than people who are a year older than me? You were going to ask me that. And I've tried to work it out. And the answer is it depends how much you weren't over a career, which we don't know that at the moment. |
| 1:12.1 | So the headline figure... |
| 1:13.6 | Won't know that at any point during the podcast, actually. |
| 1:16.0 | The headline is obviously like fees went up from just over 3,000 to just over 9,000. |
| 1:20.7 | So that's 6,000 a year. |
| 1:22.3 | So that's 18,000 straight off the bat. |
| 1:24.8 | But it actually works out much, much more than that because you are, |
| 1:29.5 | I imagine, highly unlikely to pay that debt off because of the interest rates, which we'll |
| 1:34.5 | discuss later in the podcast episode, which means effectively, rather than thinking about it in terms |
| 1:39.5 | of a cash value, think of it in terms of an extra 9% of your income going to what is essentially |
| 1:46.0 | a graduate tax for 30 years. By the way, another thing they did that I just realized that I didn't |
... |
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