Remove interest rates on student loans.

Rejected 21 signatures

What the petition asks

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.

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.

Why it was rejected

There was already a petition about this issue. Duplicates are rejected so signatures collect in one place.

Sharia Compliant Student Loans for Muslim Students going to further education

Timeline

8 Oct 2020	Petition opened for signatures
15 Oct 2020	Rejected by the Petitions Committee

Key facts

Signatures 21

Status Rejected

Rejected 15 Oct 2020

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