Loan interest rip-off leaves students with £50,000 of debt: Changes to fees mean they are forced to pay 18 times Bank base rate



Students are leaving university with debts of almost £50,000 – as a double blow of raised fees and sky-high interest rates kicks in.
Changes to fees on their student loans mean they now pay around 18 times the Bank of England base rate – adding up to £5,000 to their debt before they even graduate.
This is on top of money borrowed to cover up to £9,000 a year in tuition fees, which are set to rise again to £9,500, plus living costs. Critics described the interest charges as ‘exorbitant’ and said they are forcing a generation to start adult life ‘on the back foot’.
It has also emerged that... read more

 
1 October 2016 in Business, Views: 58
Source: Daily Mail
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