Student Loan Interest Rate. Is Govt Delay over decision a “how much will it cost”?'

sallymcp

My loans are pre 1998 and i have to start paying back this year as i can no longer defer, i earn abiut £30 a year too much! How rubbish is that!

I will be very angry if they don't shrink the loans, i really begrudge paying its back as it is!! (although most of what i borrowed went on alcohol - its turned out to be some very expensive drinks! arrr the foolishness of youth!)

bobmccluckie

So is it definite that the interest rate from Sept 2009 - August 2010 is going to be 0% on post 1998 loans?

Stinkybell

We have to wait for the March RPI figures to be released on the 21st April to see what the maximum interest rate for next year is going to be

Qualcuno

When I took out my post-1998 loan, I understood that it would never increase in value (where value is defined by RPI with a ~12 month lag). Would the government not be liable for some kind of huge misselling suit if the loans now increased in value?

They obviously haven't made it clear that the loans could increase in value if even they aren't sure what's meant to happen now!

RabbitMad

its official - RPI = -0.4% (according to auntie)

ashapala

Live on Official Site.

Post 1998 loans to be 0%.

Gov got themselves out of it. (was set to be -0.4%)

So this coming academic year, students are paying interest on their loans, according the original system.

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866911&_dad=portal&_schema=PORTAL

MSE_Martin

Yep we're on it - just sent a press release out and there's a news story coming on the site any minute

minimoocow

Personally I find it disgusting that they can change the rules just like that because it doesn't suit them - I will be writing to my MP and urge everyone else to do the same otherwise in the future it could be RPI +1%, +10%?

It may only be a small amount of money but it really is the principal on this one - and as for the reason given about giving students money this year which will automatically reduce - well change the rules for new loans then not existing ones - if they were FSA regulated they'd never get away with this surely?

MMC