Rejected petition Do not reduce the Student Loan repayment threshold from £27,295.

The Student loan repayment threshold is currently set at £27,295 for students having borrowed from 2012 to pay University fees and living costs.
It has been proposed to reduce the repayment threshold to £23,000, and repayment increased to 40 years meaning lower earners repaying sooner and longer.

More details

By lowering the Student loan repayment threshold, the lower earning population will once again be the people hardest hit. This coupled with the rising cost of living, and National Insurance increase as of April 2022 will result in a substantial reduction in take home wages.
Current rates are 9% over threshold.
For example, repayment on £30,000 would increase to £630 per year from £243.45 per year.
Those previously below the threshold could see hundreds per year now taken from their pay.

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.

You may wish to sign this petition calling for the same action:

Do not reduce earnings threshold for student loan repayments!
https://petition.parliament.uk/petitions/597911

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

Date submitted 20 October 2021
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