This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to give urgent consideration to Mark Durkan MP’s motion to raise the Student Loan repayment threshold from £15,000 to £18,000. More details
Submitted by Michael Rafferty of SDLP – Deadline to sign up by: 17 July 2009 – Signatures: 61
SDLP leader Mark Durkan's recently tabled motion in Westminster to increase from £15,000 to £18,000 the salary at which students begin to repay their student loans will be welcomed by the vast majority of students and graduates in Northern Ireland and in Britain.
Since the new system for student funding was introduced by New Labour in 2006, there have been several disproportionate hikes in tuition fees, allegedly down to inflation. Now that inflation is lower, it is unfair that this is not reflected in students' loan statements.
Graduates currently start paying back their loans when they earn over £15,000 per year. In 3 year's time, £15,000 will be a much lower salary in real terms. Therefore, why does does this threshold remain constant? If the system is not changed, graduates will struggle under the weight of the loan, paying more with each year of study while they earn a lower salary.
This could come to the point where it is no longer worth taking out a student loan to go to university, leaving many able young people unable to achieve their potential.
Michael Rafferty, the Petition Creator, joined by: