The interest rate for student loans in Wales will rise from the current 4.5% to 7.3% this autumn amid accusations that students are being used as "cash cows". Earlier this year the Institute for Fiscal Studies said the interest rate would rise to a massive 12% - but the Welsh Government will follow England and cap the rise at 7.3% for 12 months.
In a Written Statement the Welsh Government said it "will continue to protect students from high interest rates on their loans, rates which are a result of high levels of inflation."
NUS UK President Larissa Kennedy said the interest rate figures, though cut, was still "cruelly high". Students have been impacted by the cost of living and "aren't cash cows", she added.
