Students look set to see the interest rates they pay on loans drop from September. For some students in England and Wales, it means the rate they are charged is likely to fall from 5.6% to 4.5%.
The amount you pay in interest is made up of Retail Price Index (RPI) measure of inflation plus a certain percentage, depending on when you started studying.
The government usually calculates student loan interest rates based on March’s RPI figure, which was published this month - but it doesn’t officially confirm rates until later this year.
Figures from last week showed RPI was 1.5% - down from the 2.6% recorded last March. If the government follows previous patterns and uses this to calculate student loan interest rates, it means students in
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