Submitted on Wednesday 4th October 2017
Published on Monday 9th October 2017
Current status: Closed
Closed: Monday 9th April 2018
Signatures: 24
Increase the student loan repayment threshold for all graduates (Type 1 Loan)
Type 2 (Post sep 2012 students) student loans have recently had a threshold increase to £25000. Now pre Sep 2012 starters pay 9% contributions on every single penny above £17,775. If a grad from 2014 and 15 both earned 25k. Then the grad from 2014 would earn (Gross) £650.25 less than the 2015 grad.
This could be the difference between being approved for a mortgage or refused.
Considering only the top 23% of graduates pay their loans back within 30 years. We want the government to help all graduates and make the threshold for all student loans the same.
It could be suggested its just another kick in the teeth for millennials who were born a decade late for affordable housing.
https://www.moneysavingexpert.com/news/family/2017/10/victory-for-graduates-student-loan-repayment-threshold
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