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Campaign to freeze interest on student loans until graduation

Submitted on Monday 22nd August 2011

Published on Wednesday 24th August 2011

Current status: Closed

Closed: Thursday 24th November 2011

Signatures: 28

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Petition Action

Campaign to freeze interest on student loans until graduation

Additional Information

***What's the problem?***

Did you know that students pay interest on their student loan from the moment they receive their first loan payment?

This means that the amount the student owes gets bigger day by day, month by month, despite the fact that they have no full time job, and no way of paying off the interest.

We think this policy is unfair and weighted against even the most cautious young borrower.

***What action would we like to see?***

We think the government should freeze all interest on student loans until the point at which the student leaves university.

The interest should only start to accrue once they graduate, and have a fighting chance of paying it off.

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