Petition Reduce and freeze student loan interest rates at 1.5% per annum

The Government should reduce the interest rates on all student loan plans to 1.5% per annum and freeze them at that level.

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Those who try at university and get a decent-paying job that allows them to reach the threshold to pay back their loans should not be punished. Currently, the interest rate can be as high as 4.5%. For a total student loan debt of £38,298, you might have to pay a minimum of £1,723 a year, just to keep the total debt from rising. This risks pressuring people into finding ways to avoid declaring incomes, which could negatively affect the economy.

This petition is closed This petition ran for 6 months

155 signatures

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10,000

Date closed 13 June 2022
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