Stop Subjectivly using the words Income and Loans

Student loans are treated as an income but the legal definition of income is

•any salary, wages or fee
•any gratuity or other profit or incidental benefit of any kind obtained by the employee if it is money or money's worth (see EIM00530)
•anything else that constitutes an emolument of the employment

The Definition of a loan in law is
•money debt
•arising from a transaction for the lending of money

Both elements have to be present for the arrangement to be a loan relationship.

Both the above definitions are taken from government websites

The government needs to come clean and change the rules regarding the use of the word LOAN and INCOME and they should not be entitled to use words that best fit what they want to achieve.

If you take out a loan then you have to pay it back so it should not be counted as income as per the legal definition. So student loans should be exempt from the rules as it is not income under the definition.

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Currently ranked 46,138 out of 107,494 petitions ever created.

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Created By

John Forbes

Created On

Wednesday 14 May 2014

Closing Date

Saturday 16 May 2015

Tagged With