Petition · past parliament
Review above inflation interest rates applied to Plan2 Student Loans in England
Closed
74 signatures
What the petition asks
The Plan2 annual rate of interest while students are studying is RPI plus 3% and continues to be above RPI unless earnings stay below £21,000.
Previous Plan2 %rates (Plan1 pre-2012) are:
2012/13 6.6% (1.5%)
2013/14 6.3% (1.5%)
2014/15 5.5% (1.5%)
2015/16 3.9% (0.9%)
2016/17 4.6% (1.25%)
Previous Plan2 %rates (Plan1 pre-2012) are:
2012/13 6.6% (1.5%)
2013/14 6.3% (1.5%)
2014/15 5.5% (1.5%)
2015/16 3.9% (0.9%)
2016/17 4.6% (1.25%)
The uncertain economic future after the EU Referendum leaves Plan2 borrowers vulnerable. In addition, there is the looming threat of the Plan2 student loan book being sold to a private sector financial institution.
This petition asks the government to review Plan2 student loans to remove above inflation interest rates and introduce a cap; thus protecting English students from becoming “an indentured class of graduates from whom higher repayments can be extracted.” (McGettigan, A) @plan2fight
This petition asks the government to review Plan2 student loans to remove above inflation interest rates and introduce a cap; thus protecting English students from becoming “an indentured class of graduates from whom higher repayments can be extracted.” (McGettigan, A) @plan2fight
Timeline
| 5 Sep 2016 | Petition opened for signatures |
| 5 Mar 2017 | Closed to new signatures |
Key facts
Signatures
74
Status
Closed
Opened
5 Sep 2016
Closed
5 Mar 2017
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Source: the official petition page. Last checked 15 Jul 2026.