Government fails to honour student loan promise

markb1981

I can't say I am suprised by this but that doesnt make it right.

so sign the petition and kick up a fuss.

the squeeky wheel gets the oil!

if you dont ask for it you wont get it etc etc

toontastic

markb1981 wrote: »

I can't say I am suprised by this but that doesnt make it right.

so sign the petition and kick up a fuss.

the squeeky wheel gets the oil!

if you dont ask for it you wont get it etc etc

Ah I know, although I know noubt will change, I still signed

anotherpaul_2

It's a very poorly written petition - the "more details" say:
"The current student loan interest rate is 1.5%, but it is meant to be linked to RPI inflation which is negative, it has gone down slowly from 4.50%, but stopped there, this petition is to show that students are not happy that it is not decreasing even though inflation is, it is meant to go up at the same rate that prices do, prices are decreasing, the loans should decrease."

This seems to have been written by someone who doesn't know how the interest rate is supposed to work.

It's tempting to start a better one.

Sol00

I was thinking that myself, if only to highlight the current issue - that they shouldn't stop the interest rate being linked to the RPI as it suits them.

Scrilla

Rafter wrote: »

As RPI inflation is down purely as a result of mortgage interest rates dropping and CPI is still significantly above the Bank of England target, this seems totally reasonable.

What about when RPI was 4.8% and the CPI was 3.1% (with the BoE target at 2.9%)? Applying the same logic you have used, surely the interest rate for student loans should have been less than the 4.8% it was back then as this would only make it "reasonable".

Targets are exactly that - a target. It does not represent the current climate. It is completely unreasonable for you to make a comparison and draw a conclusion based on how it relates to a target.

Neilhmtn

anotherpaul wrote: »

It's a very poorly written petition - the "more details" say:
"The current student loan interest rate is 1.5%, but it is meant to be linked to RPI inflation which is negative, it has gone down slowly from 4.50%, but stopped there, this petition is to show that students are not happy that it is not decreasing even though inflation is, it is meant to go up at the same rate that prices do, prices are decreasing, the loans should decrease."

This seems to have been written by someone who doesn't know how the interest rate is supposed to work.

It's tempting to start a better one.

Not only that, but someone with a poor grasp of English grammar and punctuation.

Normally, I don't care about people's spelling or grammar ability as long as I can understand what they're trying to say, but this was presumably started by someone who went to university. Christ all-bloody-mighty. Can't they at least make an effort to pretend that having a university education actually means anything these days?

I would have signed - although I have a pre-1998 loan, I don't like the precedent that this move sets - but I'm not even going to touch that petition with a sh**ty-stick.

PinkPig

I've just seen this and it makes me very angry. I took out my loan on the basis that I would always pay back the same, in real terms, as I borrowed. That's not what's happened here. The government claims that "not increasing" the £15,000 repayment threshold makes this better but frankly that's ridiculous - trying to make a bad decision sound better by saying "we could have done something else" doesn't cut it.

I will be writing to my MP and I very strongly encourage everyone else to do the same thing.

CLAPTON

PinkPig wrote: »

I've just seen this and it makes me very angry. I took out my loan on the basis that I would always pay back the same, in real terms, as I borrowed. That's not what's happened here. The government claims that "not increasing" the £15,000 repayment threshold makes this better but frankly that's ridiculous - trying to make a bad decision sound better by saying "we could have done something else" doesn't cut it.

I will be writing to my MP and I very strongly encourage everyone else to do the same thing.

as you took out your loan on the basis that you would always 'pay back the same' , presumably you will be repaying the tax payers as the March 2008 RPI was 3.8% but you are now only paying 1.5%.
or maybe not..

Scrilla

http://petitions.number10.gov.uk/Loansofstudents/

This seems to be a better petition for those who want to sign.
(I've not signed either pertition, just posting the information)

Sol00

CLAPTON wrote: »

as you took out your loan on the basis that you would always 'pay back the same' , presumably you will be repaying the tax payers as the March 2008 RPI was 3.8% but you are now only paying 1.5%.
or maybe not..

That was a T&C already in the agreement and nothing that could be argued with; whereas the current situation is a different story.