Property News · April 12, 2017

Student loan interest rate set to rise by a third after UK inflation surge


Increase in inflation, driven by pound’s Brexit slide, means students will pay more as others benefit from low borrowing ratesStudents appear to be paying a heavy price for the UK’s inflation surge after the Brexit vote, which will drive the interest rate on their loans up by a third to 6.1%. The rise in inflation, driven by a decline in the value of the pound since June, means students will be charged substantially more interest on their loans, despite the fact that many other consumers are benefiting from record low interest rates. Personal loans from high street banks have rates starting at 2.8%, while five-year fixed-rate mortgages are available from 1.29%. Continue reading…

Source : theguardian.com
Read more…Student loan interest rate set to rise by a third after UK inflation surge

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