Politics · 28 July 2026

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

David Woolfall via Wikimedia Commons (CC-BY-3.0)

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

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