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Student loan plan 2 - interest rate from September
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SB1994
Posts: 2 Newbie

Hello! I am wondering if anyone has any information on what the interest rate will be for plan 2 student loans from September. My understanding is that e current 7.1% cap is only applicable until September 2023. And that as of then, the March RPI will be used (per the normal rules). With March's rate still being above "normal", I am wondering if the government will continue to apply the 7.1% cap, or perhaps cap the rate but at a different value.
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I'll ask the forum team to move this to the student board.
Current and historic interest rates can be found here: https://www.gov.uk/guidance/how-interest-is-calculated-plan-2I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Student board can be found here: https://forums.moneysavingexpert.com/categories/student-money-saving
I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Moved as per @silvercar's suggestion
Official MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com0 -
Any day now the government will publish a Student Loans Interest Rates and Repayment Threshold Announcement
For information, the last few were announced on:
• 10th August 2022
• 12th August 2021
• 11th August 2020
• 8th August 2019
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No threshold announcements but we have interest rate confirmed at 7.3%:
https://www.gov.uk/government/news/change-to-maximum-plan-2-plan-5-and-postgraduate-student-loan-interest-rates--2
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Thanks for the update! Interesting to see they've only extended it out to end of November0
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