Tax Cuts vs Free Interest

ACT has a calculator (excel file) which shows that their tax cuts would allow students to pay off their loans far quicker than under Labour.

Also once the loan is paid off, you get to keep the benefits of lower tax for the rest of your life, unlike Labour which will keep taxing you to fund every scheme they can possibly think up.

Now ACT’s tax policy is not going to happen, but there is a very valid point that students and graduates should not assume that they will pay their loans off faster with Labour, or be better off, than if they vote for a party which will deliver tax relief.