Sir Philip Augar, who previously chaired the 2018 review of student loans, has expressed strong criticism of Labour's recent decision to change the conditions of student loans, describing the move as 'almost sneaky.' The decision, made by Chancellor Rachel Reeves, involves freezing the income threshold for Plan 2 loan repayments at £29,385 starting April 2027. This means that graduates will pay 9% of their earnings over this threshold, resulting in increased repayments for many individuals. Augar highlighted the moral implications of altering loan terms retrospectively, arguing that many young people may not have understood the potential for such changes when they took out their loans. He pointed out that while the government is legally permitted to make these changes, there is an ethical obligation to maintain transparency and fairness. The ongoing inquiry into student finance aims to address these concerns, as graduates face mounting financial pressure amidst rising living costs. The government has acknowledged graduates' concerns and notes steps taken to make the system fairer, including a cap on interest rates.