Rejected petition Remove interest rates on student loans.

At present most universities charge £9,250 a year, with an interest charged at RPI + 3% (currently 5.6%) while studying. The government should remove the 3%. Students are being exploited for wanting to improve their skills and better the economy. Interest is also a deterrent for Muslim students.

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Students shouldn't have to incur excessive debt for pursuing degrees that will improve the economy. Benefits of university graduates in the labour force includes higher annual earnings which irrefutably contributes to economic growth and improved living standards. Subsequently, the government can expect increased tax revenue.

Furthermore, since Muslims can't take loans with interest, interest rates on loans are discriminatory against the Muslim community wishing to access higher education.

This petition was rejected

Why was this petition rejected?

There’s already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.

https://petition.parliament.uk/petitions/318563

We only reject petitions that don’t meet the petition standards.

Date submitted 8 October 2020
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