Between 1 September 2010 and 31 August 2011, the interest rate may change because it is linked to the rates charged by high street banks. The rate will be the lower of the Retail Price Index in March 2010, or 1% above the highest base rate of a nominated group of banks. As March’s RPI was 4.4%, the maximum rate of interest you may be charged between 1 September 2010 and 31 August 2011 is 4.4%.
This rate applies to all income contingent loan customers including students currently studying at university or college.
Customers will be able to monitor the rate of interest on this website and www.studentloanrepayment.co.uk and should check the rate on a monthly basis, particularly if there is a change in the Bank of England, United Kingdom base rate.Source:
Student Loans Company
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