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MSE News: Student loan interest rates go negative

Former_MSE_Guy Posts: 1,650 Forumite

1 September 2009 at 9:40AM in Student MoneySaving

This is the discussion thread for the following MSE news story:

"Today is a revolutionary day. Of the 3.7 million holders of outstanding Student Loans Company loans – many in their 20s and 30s – 400,000 will see their interest rate go negative.

This means in a year, even if they repay nothing, they’ll owe less than now. For the rest, loans are interest-free ..."

Read the full story:

Student loan interest rates go negative

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Comments

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  Lokolo Posts: 20,861 Forumite

  

  1 September 2009 at 9:42AM

  Thanks for digging it in

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  dalsude Posts: 10 Forumite

  3 September 2009 at 8:34AM

  Does anybody know whether this will have any effect on the monthly amount that I'm already repaying on pre 1998 loans?
  Thanks.

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  Lokolo Posts: 20,861 Forumite

  

  3 September 2009 at 9:10AM

  dalsude wrote: »

  Does anybody know whether this will have any effect on the monthly amount that I'm already repaying on pre 1998 loans?
  Thanks.

  
  No but the amount you owe will go down quicker.

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