Minister says change for plan 2 and 3 loans in England and Wales will ‘protect borrowers’ from impact of global conflict
Millions of graduates will have the interest on their student loans capped at 6% from September as a temporary measure to protect them from the risk of rising inflation driven by war in the Middle East.
Ministers acted after months of criticism over the loans becoming a “debt trap” that often leave graduates in England and Wales paying tens of thousands more than the original loan amount.
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