Ministers urged to cut interest rates on education loans


  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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