Freeze interest accrual on student loans during post-graduate study
The U.K. Student Loan, as provided by the Student Loans Company (SLC), accrues interest at an annual rate of between 2% and 5%.
For those who choose to continue full-time education beyond the undergraduate level, interest on their original student loan will continue to be accrued during their studies. A full-time masters degree is one year, and doctoral research programmes range from 3 years and 5 years.
With the average level of student debt in the U.K. set to rise to £50000, the effect of this interest accrual for those who seek to continue their studies is not insignificant.
We the undersigned request that interest on student loans be frozen during periods of post graduate study, up to and including the level of PhD.
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