This series takes a fresh, sometimes challenging, look at some of the issues facing the actuarial profession and society
The ‘think’ series aims to promote debate on topics across the spectrum of actuarial work and beyond. It looks to provide a platform for members and stakeholders to share views that may differ from the IFoA’s ‘house’ view.
Through this, we hope to challenge the status quo within the profession, question orthodoxy, and shine a light on complex or under-examined issues. At its heart, the series is about stimulating discussion and dialogue to help tackle issues from a different perspective.
The tenth publication in the ‘think’ series has been authored by Richard Hartigan, Chair of the IFoA General Insurance Standards and Consultations Committee (GISCC) and member of the General Insurance Board. His actuarial career has spanned over three decades in three different continents, and he is currently working with a major global insurer on reserving and pricing.
In this article, Richard argues that the current student loan infrastructure is not fit for purpose. He makes the case that the point at which repayments kick in is far too low, and that the level of interest rates charged on loan repayments are “arbitrary and specious”.
Richard explores the profound effects of the current student loan infrastructure that impact society. He suggests a number of practical solutions that could be made to the system. Read the full piece to find out more.
Don’t miss the chance to join author Richard Hartigan on 9 May, 12:00 to 12:30 (BST), for an engaging Q&A session on IFoA communities. He’ll be delving deeper into the report and answering your questions.
If you have any questions or would like to contribute to a future ‘think’ piece, please contact the IFoA Policy Team.
