Petition Reduce student loan interest to an affordable 1% over base rate.
With the current punitive and profiteering rate of RPI + 3% typical loans of £50k require a salary of £55k pa just to pay the £3,000 interest. The rate charged is excessive and leaves a lifetime millstone for most graduate leavers. Give the majority an attainable goal and a sense of hope!
At 10,000 signatures...
At 10,000 signatures, government will respond to this petition
At 100,000 signatures...
At 100,000 signatures, this petition will be considered for debate in Parliament
Other parliamentary business
MPs investigate student loans
A cross-party group of MPs called the Treasury Committee are investigating student loans.
They are looking at recent changes to the student loan system including:
• the repayment threshold
• interest rates
• tuition fees
• university finances
On Wednesday 18 October at 2.45pm they asked academics about:
• the impact of student loans on public finances and students
• whether fees mean that there is a 'market' for higher education
You can watch the session here:
You can find out more on the Treasury Committee's webpage:
You can follow the Treasury Committee on Twitter for updates: @CommonsTreasury
What is the Treasury Committee?
The Treasury Committee looks at and questions how the Treasury:
• is run
• spends money
• decides on its policies
It's a cross-party committee of MPs and is independent of the Government.
You can find out more about Treasury Committee on its website: http://www.parliament.uk/business/committees/committees-a-z/commons-select/treasury-committee/
This is a ‘select committee’. Find out how Select Committees work: