More than 120 MPs and peers have joined forces to demand changes to England's student loan system, warning it is placing an "unsustainable and unfair financial burden" on graduates. The cross-party group has urged Chancellor John Healey to overhaul the current Plan 2 repayment system and meet campaigners pushing for reform. Plan 2 student loans will remain frozen at £29,385 for three years | GETTYEnglish graduates currently leave university with average student debt of £53,000. The Plan 2 student loan system applies to those who started university between 2012 and 2023. The parliamentarians are seeking a meeting with Mr Healey and Ms Powell to discuss a joint approach to reforming the student loan system.