Submitted on Wednesday 17th October 2018
Rejected on Wednesday 24th October 2018
Current status: Rejected
Rejection code: fake-name (see below for details)
Make ALL Student Loan Repayments Tax Deductable (not just the interest).
Currently students can be required to pay up to £9,000 per year to pay for university courses. For a typical BA/BSc this would be £27,000 excluding the cost of living. They also pay a high 6% interest rate on these loans, i.e. over 5% higher than the bank of England base rate.
The argument for student loans is that a graduate earns more over their life, so needs to pay more. However they also pay more tax, so it seems unfair to charge them 6% interest and expect them to pay higher tax rates.
For this reason I suggest that we make all student loan repayments, i.e. the interest AND capital repayments, tax deductible.
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