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What Is the Impact of Repaying Income-Contingent Student Loan Debt on Graduates' Lives? Lessons from England

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Title: What Is the Impact of Repaying Income-Contingent Student Loan Debt on Graduates' Lives? Lessons from England
Language: English
Authors: Ariane de Gayardon (ORCID 0000-0002-0010-1464), Claire Callender (ORCID 0000-0002-8795-707X)
Source: Policy Reviews in Higher Education. 2025 9(2):196-219.
Availability: Taylor & Francis. Available from: Taylor & Francis, Ltd. 530 Walnut Street Suite 850, Philadelphia, PA 19106. Tel: 800-354-1420; Tel: 215-625-8900; Fax: 215-207-0050; Web site: http://www.tandf.co.uk/journals
Peer Reviewed: Y
Page Count: 24
Publication Date: 2025
Document Type: Journal Articles
Reports - Research
Education Level: Higher Education
Postsecondary Education
Descriptors: Foreign Countries, Student Loan Programs, Debt (Financial), Loan Repayment, Income Contingent Loans, Paying for College, Student Responsibility, College Graduates
Geographic Terms: United Kingdom (England)
DOI: 10.1080/23322969.2025.2477574
ISSN: 2332-2969
2332-2950
Abstract: Faced with higher education (HE) expansion and limited public funding, governments worldwide use student loans to shift costs onto graduates. Income-contingent loans (ICLs) are considered a potential solution, protecting debtors from excessive loan repayments, financial hardship, and default. Governments adopting ICLs promote them as benign while encouraging indebtedness and normalising it. Yet, policymakers and researchers largely ignore the realities for graduates of repaying ICL debt. Very little is known about the actual consequences of ICL debt for graduates. This paper explores the impact of ICL debt on graduates' lives, drawing on 47 in-depth qualitative interviews with English graduates 10-12 years after graduation. Our findings reveal a continuum of experiences: while most graduates experience little to no impact, a significant minority of graduates face adverse effects, restricting their life choices. For these graduates, contrary to policy rationalities, ICLs' protective features fail. We argue that this failure arise in part because ICLs seek to alleviate the financial burden of debt but not its psychological burden. Student loan policies globally need to recognise the potential negative impact of student debt and seek to better protect vulnerable graduates from both the financial and psychological burden of debt.
Abstractor: As Provided
Entry Date: 2025
Accession Number: EJ1482359
Database: ERIC
FullText Text:
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  Data: What Is the Impact of Repaying Income-Contingent Student Loan Debt on Graduates' Lives? Lessons from England
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  Data: English
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  Data: <searchLink fieldCode="AR" term="%22Ariane+de+Gayardon%22">Ariane de Gayardon</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-0010-1464">0000-0002-0010-1464</externalLink>)<br /><searchLink fieldCode="AR" term="%22Claire+Callender%22">Claire Callender</searchLink> (ORCID <externalLink term="https://orcid.org/0000-0002-8795-707X">0000-0002-8795-707X</externalLink>)
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  Data: <searchLink fieldCode="SO" term="%22Policy+Reviews+in+Higher+Education%22"><i>Policy Reviews in Higher Education</i></searchLink>. 2025 9(2):196-219.
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  Data: Taylor & Francis. Available from: Taylor & Francis, Ltd. 530 Walnut Street Suite 850, Philadelphia, PA 19106. Tel: 800-354-1420; Tel: 215-625-8900; Fax: 215-207-0050; Web site: http://www.tandf.co.uk/journals
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  Data: 24
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  Data: 2025
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  Data: Journal Articles<br />Reports - Research
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  Label: Education Level
  Group: Audnce
  Data: <searchLink fieldCode="EL" term="%22Higher+Education%22">Higher Education</searchLink><br /><searchLink fieldCode="EL" term="%22Postsecondary+Education%22">Postsecondary Education</searchLink>
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  Data: <searchLink fieldCode="DE" term="%22Foreign+Countries%22">Foreign Countries</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Loan+Programs%22">Student Loan Programs</searchLink><br /><searchLink fieldCode="DE" term="%22Debt+%28Financial%29%22">Debt (Financial)</searchLink><br /><searchLink fieldCode="DE" term="%22Loan+Repayment%22">Loan Repayment</searchLink><br /><searchLink fieldCode="DE" term="%22Income+Contingent+Loans%22">Income Contingent Loans</searchLink><br /><searchLink fieldCode="DE" term="%22Paying+for+College%22">Paying for College</searchLink><br /><searchLink fieldCode="DE" term="%22Student+Responsibility%22">Student Responsibility</searchLink><br /><searchLink fieldCode="DE" term="%22College+Graduates%22">College Graduates</searchLink>
– Name: Subject
  Label: Geographic Terms
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22United+Kingdom+%28England%29%22">United Kingdom (England)</searchLink>
– Name: DOI
  Label: DOI
  Group: ID
  Data: 10.1080/23322969.2025.2477574
– Name: ISSN
  Label: ISSN
  Group: ISSN
  Data: 2332-2969<br />2332-2950
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: Faced with higher education (HE) expansion and limited public funding, governments worldwide use student loans to shift costs onto graduates. Income-contingent loans (ICLs) are considered a potential solution, protecting debtors from excessive loan repayments, financial hardship, and default. Governments adopting ICLs promote them as benign while encouraging indebtedness and normalising it. Yet, policymakers and researchers largely ignore the realities for graduates of repaying ICL debt. Very little is known about the actual consequences of ICL debt for graduates. This paper explores the impact of ICL debt on graduates' lives, drawing on 47 in-depth qualitative interviews with English graduates 10-12 years after graduation. Our findings reveal a continuum of experiences: while most graduates experience little to no impact, a significant minority of graduates face adverse effects, restricting their life choices. For these graduates, contrary to policy rationalities, ICLs' protective features fail. We argue that this failure arise in part because ICLs seek to alleviate the financial burden of debt but not its psychological burden. Student loan policies globally need to recognise the potential negative impact of student debt and seek to better protect vulnerable graduates from both the financial and psychological burden of debt.
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  Data: 2025
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        Value: 10.1080/23322969.2025.2477574
    Languages:
      – Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 24
        StartPage: 196
    Subjects:
      – SubjectFull: Foreign Countries
        Type: general
      – SubjectFull: Student Loan Programs
        Type: general
      – SubjectFull: Debt (Financial)
        Type: general
      – SubjectFull: Loan Repayment
        Type: general
      – SubjectFull: Income Contingent Loans
        Type: general
      – SubjectFull: Paying for College
        Type: general
      – SubjectFull: Student Responsibility
        Type: general
      – SubjectFull: College Graduates
        Type: general
      – SubjectFull: United Kingdom (England)
        Type: general
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      – TitleFull: What Is the Impact of Repaying Income-Contingent Student Loan Debt on Graduates' Lives? Lessons from England
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