Student Loans

The Bank of England has cut the base rate for the first time in more than seven years, reducing it from 0.5% to a new historic low of 0.25%.

MPs have debated the retrospective hike in student loan payments, following a call from MoneySavingExpert.com founder Martin Lewis for people to get their MP to show their opposition to the changes.

A petition signed by more than 130,000 people calling for the end of retrospective changes to the student loans agreement has triggered a parliamentary debate.

The Government's U-turn on a promise to increase the threshold of student loan repayments was debated in the House of Commons yesterday, with MPs expected to decide today whether a petition on the subject will trigger a further debate.

The Government has rejected a petition about the retrospective hike in the cost of loans for more than two million students, despite it receiving more than 128,000 signatures – but it may still end up being debated in Parliament.  

MPs are likely to debate the Government's retrospective hike in the cost of loans for more than two million students after a petition quoting MoneySavingExpert on the subject collected more than 100,000 signatures.

University students across the UK need to get a shift on if they want to guarantee getting their loans in time for the start of the September 2016 term.

Student loans administrator Erudio is to write again to thousands of graduates to confirm new deferment deadlines, after a second admin blunder in a month caused widespread confusion over when deferment application forms need to be submitted.

Students and graduates can expect to pay more interest on their student loans from September compared with the previous year, as inflation increases.

Embattled student loans administrator Erudio has failed to provide deferment application forms to thousands of graduates on time, which may leave them wrongly having to make repayments from next month if not resolved.