MSE News: Student loan interest rates go negative 1 September 2009 at 10:40AM in Student Money Saving 3 replies 1.2K views

Former_MSE_Guy

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

Lokolo

Thanks for digging it in

dalsude

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

Lokolo

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.