Petition · past parliament · HM Treasury
Make Student Finance repayments tax deductible
Closed
84 signatures
What the petition asks
A tax deduction for Student Finance repayments would ease graduates' financial burden. High-interest rates and long repayment periods make it harder than ever to live. Deducting repayments from taxable income would reduce yearly amounts owed, providing immediate relief and simplifying repayment.
For example, a recent graduate earns £30k annually with a student loan balance of £50k at 5.4% interest rate. Presently, they must pay £243 p.a. (9% of income over £27,295). If student finance repayments were tax-deductible, they could deduct £243 from their taxable income, saving approximately £49 per year (20% basic tax rate).
Over 30 years, they would save around £1,500, which they could use for living expenses or savings, or to reduce their overall student loan balance.
Over 30 years, they would save around £1,500, which they could use for living expenses or savings, or to reduce their overall student loan balance.
Timeline
| 23 Mar 2023 | Petition opened for signatures |
| 23 Sep 2023 | Closed to new signatures |
Key facts
Signatures
84
Status
Closed
Department
HM Treasury
Opened
23 Mar 2023
Closed
23 Sep 2023
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Source: the official petition page. Last checked 15 Jul 2026.