Petition Make Student Finance repayments tax deductible

A tax deduction for Student Finance repayments would ease graduates' financial burden. High-interest rates and long repayment periods make it harder than ever to live. Deducting repayments from taxable income would reduce yearly amounts owed, providing immediate relief and simplifying repayment.

More details

For example, a recent graduate earns £30k annually with a student loan balance of £50k at 5.4% interest rate. Presently, they must pay £243 p.a. (9% of income over £27,295). If student finance repayments were tax-deductible, they could deduct £243 from their taxable income, saving approximately £49 per year (20% basic tax rate).

Over 30 years, they would save around £1,500, which they could use for living expenses or savings, or to reduce their overall student loan balance.

This petition is closed This petition ran for 6 months

84 signatures

Progress of the petition towards its next target: 84 of 10,000 signatures required to get a government response

Show on a map the geographical breakdown of signatures by constituency

10,000 signatures required to get a government response

Date closed 23 September 2023
Get petition data (json format)

About petition data

The data shows the number of people who have signed the petition by country as well as in the constituency of each Member of Parliament. This data is available for all petitions on the site. It is not a list of people who have signed the petition. The only name that is shared on the site is that of the petition creator.