MPs have launched an inquiry into the UK's student loan system, amid growing concerns over graduate debt. The review follows warnings that young people are facing a 'perfect storm' of economic challenges, including high energy costs and housing pressures. According to recent reports, UK firms are struggling to hire young people due to cost pressures. The Treasury committee chair, Meg Hillier, has stated that the review will examine whether the current system is fit for purpose. The inquiry aims to provide recommendations on how to support struggling households.
High energy costs and housing prices have been a major concern for many families in recent years. The government has introduced several support schemes, including the Energy Price Guarantee and the Help to Buy scheme. However, it remains unclear whether these measures are sufficient to help households with rising debt and cost pressures.