Ministers urged to cut interest rates on education loans

• Rithika Siddhartha
• 18 February, 2018

By: Rithika Siddhartha

  THE British government should cut the interest rate it charges on loans to English students, and statisticians should review why the cost of hefty write-offs barely figures in official borrowing data, a parliamentary committee said today (18). University tuition fees in England are high compared with elsewhere in Europe at around £9,000 ($12,640) a year, and Labour gained support from students in May 2017’s election with a pledge to try to reduce their debts. Student loans taken out since 2012 charge a variable interest rate that is three percentage points higher than the prevailing rate of retail price inflation,…

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