Advance notice: student loan interest rates to be capped

Universities Minister Andrea Jenkyns is expected to announce on Wednesday, August 10, that student loan interest rates will be capped so that in September 2022, borrowers face a maximum interest rate of 6.2% rather than 12%, after a rise in the rate of RPI due to global economic pressures.

The temporary interest rate will apply to Plan 2 and 3 student loans between 1 September and 30 November.