What is the current interest rate for student loans?
The current interest rate for repaying student loans is 1.5%. The interest rate for Income Contingent Loans applies from 1 September to 31 August each year. All student loans accrue interest which is linked to the rate of inflation in line with the Retail Prices Index. This means that in real terms, the amount you pay back will have broadly the same value as the amount you have borrowed, and no profit is made on the loan itself. Interest accrues on your loan until it has been repaid in full.
The current interest rate for repaying student loans is 2.5%. This interest rate is based on the annual March retail price index (RPI) or the highest base rate of a number of major banks plus 1%; whichever is lower. To date, the RPI has always been the lower of the two. The reduced bank base rate plus 1% is currently lower than the March 2008 RPI so we have presently adjusted the student loan rate to 2.5%. The interest rate was 3% from 5 December 2008 to 8 January 2009. Interest is applied to your loan until it has been repaid in full.
The current interest rate for repaying student loans is 2.5%. The interest rate for Income Contingent Loans applies from 1 September to 31 August each year. This interest rate is based on the annual March retail price index (RPI) or the highest base rate of a number of major banks plus 1%; whichever is lower. Interest is added to your loan until it has been repaid in full.
The current interest rate for repaying student loans is 1.5%. The interest rate for Income Contingent Loans applies from 1 September to 31 August each year. This interest rate is based on the annual March retail price index (RPI) or the highest base rate of a number of major banks plus 1%; whichever is lower. Interest is added to your loan until it has been repaid in full.
