On Wednesday, demonstrators dressed as sharks and wearing masks of Rachel Reeves gathered outside the Houses of Parliament, voicing their discontent over the proposed changes to student loan repayments. Organized by the National Union of Students (NUS), the protest depicted Reeves as a 'loan shark' in response to her announcement affecting graduates’ repayment terms. This announcement entails that from April 2027, the salary threshold for Plan 2 loan repayments will be frozen at £29,385 for three years, leading to concerns for many graduates who would be forced to pay more due to stagnating wages and inflation.

The demonstration also included the participants expressing their grievances by displaying their accumulated debts and chanting slogans like "Don’t freeze our futures." The action highlighted the frustrations of graduates who feel that the changes will significantly impact their financial prospects, as many already bear substantial debts after pursuing higher education. Among the protesters was Alex Stanley, the NUS vice-president for higher education, who shared his personal story of borrowing £50,000 for his political studies at Exeter University and expressed alarm at the new repayment conditions, which could plummet graduates into deeper financial challenges.

This protest reflects broader discontent within the UK regarding higher education financing and the burden of student debt. With rising living costs and a challenging job market, students and graduates are increasingly concerned that such government decisions will hinder their economic stability and future prospects. The NUS’s call to action signifies a united stance from students urging a reconsideration of policies that they believe will lead to long-lasting detrimental effects on their lives and careers.