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Majority of students 'to still be paying back loans in their 50s'

The vast majority of students will still be paying back university tuition fee loans when they are in their early 50s, and many will never repay their debt, according to research.

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Student finance system 'lost its last shred of credibility'

Shadow universities minister Liam Byrne has waded into the debate stating David Cameron's finance system has lost credibility, he said:

"David Cameron's student finance system has lost its last shred of credibility."

He also stated that degree costs have trebled previous to this announcement which could now damage "public confidence."

(File photo) Statements from the Student Loans Company Limited. Credit: Johnny Green/PA Wire

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