Bad news for pre-1998 student loans

gmang

So, the March RPI is out and it's a massive 4.4%. The March RPI is used to set the SLC rate from September, but for post-1998 loans the get-out-of-interest-free clause will kick in (unless interest rates go high before then) and they will still pay 0%. For pre-1998 loans (currently paying -0.4%) they will increase to 4.4%!!

So, pre-1998 will pay 4.4%, post-1998 pay 0%. Does that seem fair?

Luckily, by September I can probably wipe the remaining with non-ISA savings, I mean the rates on them are much lower than 4.4% anyway.

RUBBISH!!

THRIFTY_GIRL

gmang wrote: »

For pre-1998 loans (currently paying -0.4%)

So, pre-1998 will pay 4.4%, post-1998 pay 0%. Does that seem fair?

I'm sorry but you can't have the best of both worlds. It clearly seemed fair to you when your interest rate was negative for pre-1998 loans and not for post 1998 loans.

In any case, 4.4% is better than any loan you can get on the high street at the moment. If you don't like it then stop moaning and pay it off I say:p