{"id":64012,"date":"2017-08-19T13:00:06","date_gmt":"2017-08-19T06:00:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-reform-student-finance-lets-start-with-interest-rates\/"},"modified":"2017-08-19T13:11:14","modified_gmt":"2017-08-19T06:11:14","slug":"how-to-reform-student-finance-lets-start-with-interest-rates","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-reform-student-finance-lets-start-with-interest-rates\/","title":{"rendered":"How to reform student finance? Let\u2019s start with interest rates"},"content":{"rendered":"


\nIf it was a bank, we\u2019d brand the 6.1% interest rate shameless profiteeringStudent loans are overpriced, badly administered and probably mis-sold. If they were a financial product that we unpick in the Money pages each week, they would more than likely fall into the \u201cworst-buy\u201d rather than the \u201cbest-buy\u201d category. Yet well over 200,000 undergraduates will be herded into them in September.Let\u2019s start with the overpriced interest rate. Supermarket group Asda launched into personal loans this week, promising rates starting at 2.9%. Tesco and Sainsbury\u2019s start just a tad higher at 3%. Meanwhile, the government can borrow on international money markets at just 1.8% for repayment over 30 years. Yet, when it lends the money out through the Student Loans Company, to be repaid in up to 25 years, it applies an interest rate of up to 6.1%. If this were Lloyds or Barclays we\u2019d call it shameless profiteering. Continue reading…
\n
\nSource : theguardian.com
\nRead more…How to reform student finance? Let\u2019s start with interest rates<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If it was a bank, we\u2019d brand the 6.1% interest rate shameless profiteeringStudent loans are...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-64012","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-gEs","jetpack-related-posts":[{"id":14622,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/have-student-loan-interest-rates-really-shot-up\/","url_meta":{"origin":64012,"position":0},"title":"Have student loan interest rates really shot up?","date":"May 27, 2016","format":false,"excerpt":"\r A young graduate was in the news this week after posting his student loan statement online showing that he was accruing up to \u00a3180 a month in interest \u2013 or a rate of 6.6% \u2013 when he thought he had signed up to a rate of just 0.5%A Facebook\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51620,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/student-loan-interest-rate-set-to-rise-by-a-third-after-uk-inflation-surge\/","url_meta":{"origin":64012,"position":1},"title":"Student loan interest rate set to rise by a third after UK inflation surge","date":"April 12, 2017","format":false,"excerpt":"\r Increase in inflation, driven by pound\u2019s Brexit slide, means students will pay more as others benefit from low borrowing ratesStudents appear to be paying a heavy price for the UK\u2019s inflation surge after the Brexit vote, which will drive the interest rate on their loans up by a third\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":158464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fed-holds-interest-rates-steady-what-that-means-for-car-loans-credit-cards-mortgages-and-more\/","url_meta":{"origin":64012,"position":2},"title":"Fed holds interest rates steady: What that means for car loans, credit cards, mortgages and more","date":"July 31, 2025","format":false,"excerpt":"\r From credit cards, car loans, mortgages, savings and student debt,\u00a0here's how the Federal Reserve's interest-rate decision influences your wallet.\r \r Source : cnbc.com\r Read more...Fed holds interest rates steady: What that means for car loans, credit cards, mortgages and more","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":35302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/raise-interest-rates-on-old-student-loans-secret-report-proposes\/","url_meta":{"origin":64012,"position":3},"title":"Raise interest rates on old student loans, secret report proposes","date":"June 14, 2013","format":false,"excerpt":"\r Proposal is found in Whitehall-commissioned study examining how coalition could privatise entire stock of student loansA confidential report commissioned by the government has proposed redrawing the terms of student loans taken out over the past 15 years, that would make them more expensive to pay back for 3.6 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":137172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uk-mortgages-nearly-800-deals-pulled-amid-interest-rate-fears\/","url_meta":{"origin":64012,"position":4},"title":"UK mortgages: nearly 800 deals pulled amid interest rate fears","date":"May 30, 2023","format":false,"excerpt":"\r Rates rising for new fixed-term home loans, figures from Moneyfacts showNearly 800 residential and buy-to-let mortgage deals have been pulled during the past few days by UK banks and building societies amid concern surrounding future interest rate rises, data has revealed.The figures from the financial data provider Moneyfacts also\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171672,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fed-holds-interest-rates-steady-heres-what-that-means-for-credit-cards-mortgages-car-loans-and-savings-rates\/","url_meta":{"origin":64012,"position":5},"title":"Fed holds interest rates steady: Here's what that means for credit cards, mortgages, car loans and savings rates","date":"April 30, 2026","format":false,"excerpt":"\r From mortgage rates to auto loans and credit cards, here\u2019s a look at how the Fed's April interest rate decision may affect your wallet.\r \r Source : cnbc.com\r Read more...Fed holds interest rates steady: Here's what that means for credit cards, mortgages, car loans and savings rates","rel":"","context":"In "Property 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