Petition · past parliament
Reduce the Interest Rate on Student loans
Rejected
21 signatures
What the petition asks
Due to soaring tuition fees, average graduate debt is £44,000
Also incurring a punitive rate of interest , 6.1%from September 2017 which is 24 times the Bank Base rate and double what their elders pay for unsecured bank loans
The government must retrospectively reduce interest rate
Also incurring a punitive rate of interest , 6.1%from September 2017 which is 24 times the Bank Base rate and double what their elders pay for unsecured bank loans
The government must retrospectively reduce interest rate
Only 2 years of graduates have left University since the introduction of the new fee structure. The SLC has a monopoly and graduates have no choice but use them.
From September 2017, the interest added each month to the average loan will be £223 and as most starting graduates earn £25000 they only pay back £30 per month (9% of income over £21000) so the debt grows each month by £193 !
Students will vote to change this system, as more graduate,they will become a powerful voice demand action.
From September 2017, the interest added each month to the average loan will be £223 and as most starting graduates earn £25000 they only pay back £30 per month (9% of income over £21000) so the debt grows each month by £193 !
Students will vote to change this system, as more graduate,they will become a powerful voice demand action.
Why it was rejected
It was not clear what the petition asked the UK Government or Parliament to do.
We're not sure what you would like the interest rate on student loans to be.
You may wish to sign this petition instead:
Reduce student loan interest to an affordable 1% over base rate.
Alternatively, you could start a new petition explaining clearly what you would like the Government or Parliament to do.
You may wish to sign this petition instead:
Reduce student loan interest to an affordable 1% over base rate.
Alternatively, you could start a new petition explaining clearly what you would like the Government or Parliament to do.
Timeline
| 26 Sep 2017 | Petition opened for signatures |
| 3 Oct 2017 | Rejected by the Petitions Committee |
Key facts
Signatures
21
Status
Rejected
Rejected
3 Oct 2017
Follow this petition
Sign in to get an email when the government responds, a debate is scheduled or held, or the petition closes.
Source: the official petition page. Last checked 15 Jul 2026.