Petition Scrap interest on student loans

The threshold for repayment has been increased from £21000 to £25000, but this goes no way towards dealing with the issue of high interest on student loans. Those who leave university with £50000 of debt could potentially be liable for £100k+ repayment over the lifetime of the loan. This is wrong.

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Those earning over £45k have to pay top interest rates of 6.3 percent and this can accrue for 30 years. Higher than most mortgages, yet students are expected to still go ahead and get on the property ladder in an already challenging market. Moreover, many graduates in London who are exposed to a higher cost of living (and salary to compensate) will be exposed to the higher interest rate just because of their location.

www.slc.co.uk/students-and-customers/loan-repayment/interest-rates.aspx

This petition is closed This petition ran for 6 months

141 signatures

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10,000

Date closed 17 June 2019
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