fbpx

Student loan repayments for new borrowers to start at £25,000

The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.

From September 2023, the interest rate on student loans will also be set to RPI+0%. Additionally, the length of time that students have to pay their loans back until they can be written off has been extended from 30 to 40 years.

University tuition fees have been capped at £9,250 for the next two years and will not rise with inflation.

Michelle Donelan, Higher and Further Education Minister, said:

‘We are delivering a fairer system for students, graduates, and taxpayers as well as future-proofing the student finance system. We are freezing tuition fees and slashing interest rates for new student loan borrowers, making sure that under these terms no one will pay back more than they have borrowed in real terms.’

Leave a Reply

Your email address will not be published. Required fields are marked *

Asmat Accountants

Asmat & Co are one of Berkshires’ leading independent firms of Accountants servicing a growing and satisfied clientele. At Asmat & Co expert advice is available from senior qualified Chartered Management Accountants (ACMA) and Chartered Certified Accountants (ACCA), at very attractive packages tailored to suit varied individual and business requirements. The professional team at Asmat & Co. possesses extensive experience in providing accounting, tax, finance transformation and business advisory services to a diverse customer base.

CONTACT US


  • 84 High Street, Slough, Berkshire SL1 1EL, United Kingdom
    Get directions >>
  • 01753 424968 / 02035 988 621
  • 01753 437109
  • info@asmataccountants.co.uk

Reading Office

  • 365-367 Oxford Road, Reading, RG30 1HA
    Get directions >>
  • 0118 950 9841
  • reading@asmataccountants.co.uk



×
Request a Call Back