The interest rate on student loans in England and Wales is to be capped at 6.3% in September. But the Institute for Fiscal Studies said it does "nothing at all to protect current students".
The rate had been had been due to rise from the current 4.5% and capped at 7.3%, reports the BBC. The latest announcement caps it at the lower rate with England's universities minister Andrea Jenkyns saying it is intended to offer "reassurance" to students amid rising living costs.
It does not change the amount that borrowers repay each month - it changes the total amount that they owe. And an expert from the IFS said the change would do "nothing to protect current students".
