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Student loan 3%

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perky_v

perky_v Posts: 23 Forumite

20 December 2008 at 5:00PM in Student MoneySaving

Sorry if this has been mentioned before, but it looks like the SLC have changed rates in the middle of the normal year...

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034867

The interest rate for student loans usually applies from 1 September to 31 August each year.However, on 5 December 2008 the interest rate on “income-contingent” student loans was reduced following Bank of England rate cuts:

from 1 September 2008 to 4 December 2008, the interest rate is 3.8 per cent
from 5 December 2008 to 31 August 2009, the interest rate is 3 per cent

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Lokolo Posts: 20,861 Forumite

20 December 2008 at 5:24PM

Yes the base rate change meant that the student loan rate had to reduce.

http://forums.moneysavingexpert.com/showthread.html?t=1335321

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perky_v Posts: 23 Forumite

20 December 2008 at 5:40PM

Thanks for the link

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