More than 120 MPs and peers have asked the chancellor to carry out an "urgent review" of the student loan repayment system. An open letter coordinated by the campaign group Rethink Repayment says the current set-up places an "unsustainable burden on the next generation of workers". Among the cross-party signatories are MPs with their own Plan 2 student loans, which have come under particular scrutiny this year. Current and former students have different student loan plans depending on where they live in the UK and when they went to university. It says many middle-income graduates "see less than half of any hard-earned pay rise due to a combination of income tax, national insurance and student loan repayments".