Politics · 28 July 2026

Education secretary Lucy Powell promises to review high student loan interest rates

Lucy Powell told the BBC that charging interest rates 3% higher than the Retail Price Index creates a massive financial burden. The new education secretary wants to change Plan 2 loans because borrowers spend a decade making heavy payments without ever clearing their original debt. It follows former chancellor Rachel Reeves choosing to freeze the salary threshold for repayments for three years starting next April.

By BriefTea Editorial · 28 July 2026 at 18:36

Reported by Sky News · How we write briefs

Get the app

More briefs

PoliticsTreasury officials advise John Healey to tax banks and oil companies more PoliticsBurnham to end indefinite jail terms by parliament's end PoliticsJames Cleverly steps down from the shadow cabinet to campaign for London mayor WorldIcelanders vote on restarting EU membership talks after 13 years PoliticsBurnham returns to parliament with budget, welfare, and cost of living challenges WorldFour EU countries advocate using Russia's frozen 210 billion euros for Ukraine More politics stories → Browse all stories →