Petition on Student Loan interest rates
From TheYoungConservative:
Students and graduates – sign the 10 Downing Street petition urging the government to bring our student loan interest rates into line!
The facts:
The Student Loan Interest Rate: 1.5%
The Inflation Rate: -0.3%
The government says “Student loan interest rates will match inflation”
The Problem: The Interest Rate is 1.8% higher than it should be.
The government links post 1998 student loans to the RPI inflation rate, the RPI inflation rate is now below zero at ~-0.3%, but our student loans are not going down. It is meant to be linked to that inflation rate but the interest rate is 1.5%.
The average 3rd year student will have around £22,000 worth of debt, that means they are being charged £400 a year more than they should.
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