Most first wages will fall into loan payback zone

October 3, 1997

LESS than 4 per cent of graduate starting salaries fall below the future government threshold of Pounds 10,000 for repaying student loans, according to research by the Higher Education Careers Services Unit. By contrast, three-quarters of starting salaries are below the current threshold. A survey in the CSU's job magazine found the number of vacancies had risen By more than 30 per cent since last year.

The median starting salary was Pounds 14,500, up 6.6 per cent on last year, more than double the rate of inflation. Under the existing system, loan repayments are made in fixed instalments over five or seven years once the graduate's income reaches Pounds 16,439.

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