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Student Loans - too much interest - change from RPI to CPI
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gr8thingshappen
Posts: 18 Forumite
Hey all,
From reading a few of the discussions in this forum I am worried at the way that interest on student loans is calculated using the RPI (retail price index) instead of the CPI (Consumer Prices Index) meaning - in a nutshell - that students are disadvantaged and may end up paying more due to the way this is calculated.
A petition has been started on the e-petitions website and anyone wishing to read more and sign up to change things for the better can follow the link below.
http://petitions.pm.gov.uk/CPI-not-RPI/
Many thanks
From reading a few of the discussions in this forum I am worried at the way that interest on student loans is calculated using the RPI (retail price index) instead of the CPI (Consumer Prices Index) meaning - in a nutshell - that students are disadvantaged and may end up paying more due to the way this is calculated.
A petition has been started on the e-petitions website and anyone wishing to read more and sign up to change things for the better can follow the link below.
http://petitions.pm.gov.uk/CPI-not-RPI/
Many thanks
There is no wealth but life. Life, including all its powers of love, of joy, and of admiration (John Ruskin)0
Comments
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The interest calculation method is contained in primary legislation i.e. an Act of Parliament; it would require enabling legislation to change it, which can take a long time.
The best bet is to persuade whoever wins the next Private Members' Bill lottery to take it up. This is the sort of thing NUS does very well.
Mel.Though no-one can go back and make a brand-new start, anyone can start from now and make a brand-new ending.
(Laurie Taylor, THE no. 1864)0 -
in the fullness of time, rpi will be lower than cpi.
i assume that students will then petition for rpi to be used because its fairer.
state pensions etc are linked to RPI.. will students extend their petition to reduce state pensions on the basis that its fairer?0
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