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Remove interest rates on student loans.

Submitted on Thursday 8th October 2020

Rejected on Thursday 15th October 2020

Current status: Rejected

Rejection code: duplicate (see below for details)

Petition Action

Remove interest rates on student loans.

Petition Details

At present most universities charge £9,250 a year, with an interest charged at RPI + 3% (currently 5.6%) while studying. The government should remove the 3%. Students are being exploited for wanting to improve their skills and better the economy. Interest is also a deterrent for Muslim students.

Additional Information

Students shouldn't have to incur excessive debt for pursuing degrees that will improve the economy. Benefits of university graduates in the labour force includes higher annual earnings which irrefutably contributes to economic growth and improved living standards. Subsequently, the government can expect increased tax revenue.

Furthermore, since Muslims can't take loans with interest, interest rates on loans are discriminatory against the Muslim community wishing to access higher education.

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This petition was rejected

The Government e-Petitions Team gave the following reason:

There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.

You are more likely to get action on this issue if you sign and share a single petition.


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