Student loans interest rate raised

Alex Wright April 19th, 2018


University students in England, Wales and Northern Ireland will see interest rates on their student loans rise to 6.3% in line with inflation.

Currently students pay 6.1% year on year on top of there student loans. The rise to 6.3% will come into effect from September this year for students and graduates who are under the 2012 tuition fee scheme.

The Government's review into higher education will consider how interest rates could be used to create a fairer system as concerns grow over debt acquired whilst at University. 

NUS noted that although the increase is small it is adding to the debt burden University graduates are facing.

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