General · 7 April 2026
Government Caps Student Loan Rate at 6%
Some students and graduates will see a small reduction in interest on their Plan 2 and Plan 3 loans, slowing debt accumulation slightly. The government is capping the maximum student loan interest rate at 6%, starting 1 September for the 2026-27 academic year. Affected borrowers will pay 0.2 percentage points less than the current 6.2% maximum rate.
Reported by The Guardian · How we write briefs