Charging interest on student loans massively increases the total amount of debt that graduates need to repay, often resulting in a financial burden that can last for decades. This issue is important because it can deter potential students, especially those from lower-income backgrounds, from pursuing higher education due to the fear of incurring large debts. Ensuring education is accessible and affordable is vital for creating a more equitable society where everyone has the opportunity to achieve their academic and professional goals.

I graduated over 5 years ago and despite having a relatively well paid-job, I have barely made a dent in paying off my student loan because of the interest that has been accruing year on year from the moment I received my first loan in my first year of university.