MSE News: Student loan interest rates expected to rise in September - but don't panic

Former_MSE_Callum

Student loan interest rates expected to rise in September - but don't panic...

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'Student loan interest rates expected to rise in September - but don't panic'

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silvercar

Key sentence:

"This change in interest rate will make no impact on a borrowers' monthly repayments and very few people are likely to be affected by the increase."

Ed-1

silvercar wrote: »

Key sentence:

"This change in interest rate will make no impact on a borrowers' monthly repayments and very few people are likely to be affected by the increase."

Yet you still get the following tripe in the media:

"Although the latest rise is not as steep as the increase last year, it still means millions of students will be faced with higher monthly payments."

http://www.thisismoney.co.uk/money/bills/article-5629771/Interest-rate-student-loans-youngest-graduates-going-6-3-September.html

However, even the statement that "very few people are likely to be affected by the increase" is too simplistic. All people with postgraduate loans for example will very much be affected, and those with lower plan 2 debts are very much affected (e.g. those who hold a plan 1 loan and then a short course plan 2 loan).