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Politics·Unverified·Live
Caps student loan interest rates at 6%
Updated ·First reported ·1 source
Summary
The UK government has capped interest rates on Plan 2 and Plan 3 student loans in England and Wales at 6%. The Department for Education announced the measure to protect borrowers from the impact of global conflict. Current interest rates for these loans are calculated based on the Retail Price Index plus up to 3%.
Key Facts
- •The UK government has capped interest rates on Plan 2 and Plan 3 student loans in England and Wales at 6%.[1]confirmed
- •The Department for Education states the change is intended to protect borrowers from the impact of global conflict.[1]confirmed
[1] Guardian World
Locations
United KingdomUnited Kingdom, Europe
55.38, -3.44EnglandUnited Kingdom, Europe
52.36, -1.17WalesUnited Kingdom, Europe
52.13, -3.78Sources (1)
- initial report
Changelog
initial reportv1
Automated synthesis
Show summary
The UK government has capped interest rates on Plan 2 and Plan 3 student loans in England and Wales at 6%. The Department for Education announced the measure to protect borrowers from the impact of global conflict. Current interest rates for these loans are calculated based on the Retail Price Index plus up to 3%.
- • The UK government has capped interest rates on Plan 2 and Plan 3 student loans in England and Wales at 6%.
- • The Department for Education states the change is intended to protect borrowers from the impact of global conflict.