Jordan Lee always knew he was interested in the entertainment industry. He probably could have avoided the debt that came with preparing for it.
Lee, who's now 28 and living in Manchester, England, graduated in 2016 and has a steady job as a radio host — but he also has 62,000 pounds, or about $76,900, in student debt that's always sitting in the back of his mind. "There is no way that any party in the UK would just go, 'There you go. There's your debt gone,'" Lee said."If they do, my jaw will be on the floor.""I think in a lot of people's eyes, it doesn't impact people enough for that to happen in the UK," he said.9% of borrowers' incomesWith the promise of forgiveness comes consequences for failing to make payments.
In addition, because of the rising cost of living in the UK, the government in August capped interest rates on student loans at 6.3% after they were expected to rise to 7.3%. Still, that increase has hit borrowers hard, and Lee said the surging interest made it impossible for him to stay on top of the original amount in student loans he took out.