Submitted on Tuesday 26th September 2017
Rejected on Tuesday 3rd October 2017
Current status: Rejected
Rejection code: no-action (see below for details)
Reduce the Interest Rate on Student loans
Due to soaring tuition fees, average graduate debt is £44,000
Also incurring a punitive rate of interest , 6.1%from September 2017 which is 24 times the Bank Base rate and double what their elders pay for unsecured bank loans
The government must retrospectively reduce interest rate
Only 2 years of graduates have left University since the introduction of the new fee structure. The SLC has a monopoly and graduates have no choice but use them.
From September 2017, the interest added each month to the average loan will be £223 and as most starting graduates earn £25000 they only pay back £30 per month (9% of income over £21000) so the debt grows each month by £193 !
Students will vote to change this system, as more graduate,they will become a powerful voice demand action.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
We're not sure what you would like the interest rate on student loans to be.
You may wish to sign this petition instead:
petition.parliament.uk/petitions/201652
Alternatively, you could start a new petition explaining clearly what you would like the Government or Parliament to do.
3.143.168.172 Sat, 20 Apr 2024 15:38:02 +0100
