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    • Ronaldo Mconaldo
    • By Ronaldo Mconaldo 17th Apr 13, 11:44 AM
    • 4,984 Posts
    • 5,240 Thanks
    Ronaldo Mconaldo
    • #2
    • 17th Apr 13, 11:44 AM
    • #2
    • 17th Apr 13, 11:44 AM
    Many students and graduates are therefore likely to see no change, as those with loans taken out between 1998 and 2011 will either pay March's RPI or the base rate plus 1%, whichever is lower, from next September.

    So unless the base rate, which is currently at 0.5%, unexpectedly rises, they will continue to pay 1.5%, though this will be capped during the next academic year at the 3.3% RPI level.

    Students who have taken out loans since 2012 will pay RPI plus 3% in interest, so can expect to be paying 6.3% in interest, a reduction on 2012/13's figure of 6.6%.
    How much? So if you borrowed the money between 1998 and 2011 your interest rate is 1.5% but if you borrowed after that then it's 6.6%? Oh well.
  • Derivative
    • #3
    • 18th Apr 13, 2:11 AM
    • #3
    • 18th Apr 13, 2:11 AM
    How much? So if you borrowed the money between 1998 and 2011 your interest rate is 1.5% but if you borrowed after that then it's 6.6%? Oh well.
    Originally posted by Ronaldo Mconaldo
    Yep, and if you borrowed after 2011, triple fees.

    Head shot.
    Said Aristippus, “If you would learn to be subservient to the king you would not have to live on lentils.”
    Said Diogenes, “Learn to live on lentils and you will not have to be subservient to the king.”
    • ChopperST
    • By ChopperST 18th Apr 13, 7:54 AM
    • 1,171 Posts
    • 782 Thanks
    ChopperST
    • #4
    • 18th Apr 13, 7:54 AM
    • #4
    • 18th Apr 13, 7:54 AM
    I'm so pleased I went to university when I did and "only" managed to come out with £10k worth of debt which was financed via the scheme.

    Really do feel for those going to university now with tutition fees and the general cost of living increase. Luckily my job was vocational and I got a job immediately after graduation, that is by no means a certainty in any field now.
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