The Week Unzipped: Payback Time Deals Students a Blow with Double the Interest
Scotland on Sunday › February 02, 2009
Linked as:
Summary
AS MANY as 350,000 graduates who took out student loans before 1998 are paying them back at more than double the existing bank rate.
The Student Loans Company uses the Retail Price Index to calculate repayments. The interest rate at which the loan must be repaid is fixed for 12 months every March, currently 3.8 per cent, despite the recent cuts to base rate. Since 1998, Government reforms allowed student loans to track the bank rate plus 1 per cent if this figure was lower than RPI. However, these changes did not affect loans taken out before 1998.See the full content of this document
Extract
The Week Unzipped: Payback Time Deals Students a Blow with Double the Interest
House price fall
UK HOUSE prices fell 1.3 per cent in January, according to Nationwide. Alt...See the full content of this document
Sponsored links
