This petition was submitted during the 2019 to 2024 Parliament
Closed petition Student Finance England loans to be interest free (future and existing)
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The current interest rates applied on Student Finance loans are increasing the debt of young professionals. After graduating 3 years ago, I have worked in full time employment. Student Finance shows during this time the value of interest applied to my student loan exceeds the salary repayments.
Education is vital to shape a better society and it is essential education is accessible by everybody. University fees have increased rapidly over the past 5 years, tripling in value. Interest rates add to the burden of opting into education. Not only are they drastically high, my own Student Finance proves that these rates exceed the repayment structure - showing this loan is only increasing our debt. Remove interest rates for student loans and make it achievable for students to pay back.
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This petition will stay open until 14 October 2021.