Changes to student finance rates, please check if this is true... Watch

Gelderd Aggro
Badges: 0
Rep:
?
#1
Report Thread starter 2 years ago
#1
So there's an open email to an MP from a student going viral at the moment, you may have seen it. It's about repayments for the first batch of students on the new levels of fees.

He makes a few claims I want to check as I can't find any verification online.

1) The current rate of interest on loans until the April after leaving the course is 3% + RPI (0.9%) = 3.9%. He claims that when the loans were issued, we were told the interest would be 0.5%? Is this true?

2) 'The underhand way, the Government has sold our loans to a private company which has caused the interest rate to skyrocket'. I don't believe this has actually gone through yet, but is this what has caused the rate to change? I don't think so.


Thanks for any help.
0
reply
Klix88
Badges: 17
Rep:
?
#2
Report 2 years ago
#2
(Original post by Gelderd Aggro)
So there's an open email to an MP from a student going viral at the moment, you may have seen it. It's about repayments for the first batch of students on the new levels of fees.

He makes a few claims I want to check as I can't find any verification online.

1) The current rate of interest on loans until the April after leaving the course is 3% + RPI (0.9%) = 3.9%. He claims that when the loans were issued, we were told the interest would be 0.5%? Is this true?

2) 'The underhand way, the Government has sold our loans to a private company which has caused the interest rate to skyrocket'. I don't believe this has actually gone through yet, but is this what has caused the rate to change? I don't think so.


Thanks for any help.
Only the older mortgage-style student loan debts have so far been sold off. The later loans (like the current ones) remain with the Student Loan Company. However there is legislation on the books which allows the government to sell off more in future. The coalition and Tory governments have both stated that they intend to sell off more of the student loan book, but there are no concrete plans at the moment.

This is the most recent news report I've found:
http://www.theguardian.com/education...ate-sector-bad
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

University open days

  • Arts University Bournemouth
    Art and Design Foundation Diploma Further education
    Sat, 25 May '19
  • SOAS University of London
    Postgraduate Open Day Postgraduate
    Wed, 29 May '19
  • University of Exeter
    Undergraduate Open Day - Penryn Campus Undergraduate
    Thu, 30 May '19

How did your AQA GCSE Physics Paper 1 go?

Loved the paper - Feeling positive (185)
29.98%
The paper was reasonable (250)
40.52%
Not feeling great about that exam... (108)
17.5%
It was TERRIBLE (74)
11.99%

Watched Threads

View All