Government aims to reduce the financial burden on students

Student loan interest rates in England and Wales will be reduced to 6.3 per cent in September, the Department for Education (DfE) has announced.

It is a further reduction, after the government announced in June that the student loan interest rates were to be reduced from 12 per cent to 7.3 per cent.

The move is an attempt to protect borrowers from rising inflation rates amid the rising cost of living.

 

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