Plan 5 Student Loan Interest 13.5%

Js358

My daughter’s loan account (Plan 5) states that her interest rate is 13.5%.
I can see from a thread on Reddit she is not the only one.

I believe the current rate according to the Gov site should be 4.3%, as it has been capped at this.

Is she being charged at 13.5% if this what’s displayed?
Would be good to know if anyone else has the same or a different rate being given by SLC.

Exodi

Last year (likely where the 13.5% figure comes from):

https://www.gov.uk/government/news/student-loans-interest-rates-and-repayment-threshold-announcement--4

This year: 

https://www.gov.uk/government/news/student-loans-interest-rates-and-repayment-threshold-announcement--5

Worth clarifying with SLC.

silvercar

Current interest rate on Plan 5 is quoted as 8% here:

https://www.gov.uk/guidance/how-interest-is-calculated-plan-5

but then on the link below it is 4.3%. How bizarre:

https://www.gov.uk/repaying-your-student-loan/what-you-pay

And this one confirms 4.3%:

https://commonslibrary.parliament.uk/research-briefings/sn01079/