This petition was submitted during the 2019 to 2024 Parliament
Rejected petition Link Student Loans to CPI and not RPI
Rejected on
For all student loans introduced from 2012, they have been linked to RPI and not CPI, unlike any other financial loan. This leaves young people with a huge financial burden as interest rates on incredibly large loans can fluctuate drastically e.g. they are going up to 12% this autumn
Other significant financial loans are not linked to RPI - they are all linked to CPI. In 2013, RPI also lost its status as a National Statistic (Office for National Statistics, https://www.ons.gov.uk/economy/inflationandpriceindices/articles/shortcomingsoftheretailpricesindexasameasureofinflation/2018-03-08) yet still remains the rate for interest rates on student loans.
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/614853
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