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Daily Mirror
Daily Mirror
Business
Emma Munbodh

Student loan interest rate to hit 12% for graduates in England this year

England IFS

Graduates in England will pay up to 12% interest on their loans from September this year, according to the Institute for Fiscal Studies (IFS).

The rate will dip in March 2023, when a cap on the interest will kick in.

The rate will rise from 4.5% to 12% for high earners and from 1.5% to 9% for low earners from September.

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