UK Student Loan Interest Rates Set for September With 6% Cap on Plans 2 and 3 Loans

UK Student Loan Interest Rates Set for September With 6% Cap on Plans 2 and 3 Loans

The Department for Education has confirmed that interest on Plan 2 and Plan 3 student loans in England and Wales will be capped at 6% for the 2026/27 academic year, preventing rates from rising to 7.1% from 1 September. Without the cap, both plans would have been set at 7.1% because March's Retail Price Index (RPI) figure rose to 4.1%. The new rates will run from 1 September 2026 to 31 August 2027. The government first announced the 6% ceiling i…

Major change for UK student loan holders

The Department for Education has confirmed its annual updates to interest rates and repayment thresholds for student loans in the UK

Major interest rate change for millions under Andy Burnham - what you need to know

A major change to interest rates impacting millions of Britons will come into effect under Prime Minister Andy Burnham in the near futureYesterday, the Department for Education confirmed a six per cent ceiling on interest rates for Plan 2 and Plan 3 student loans will come into force on September 1.The Student Loans Company (SLC) revealed the updated rates and repayment thresholds for the 2026-27 academic year on Monday, with the changes remaini…

Andy Burnham announces massive change for anyone with student loan

The Department for Education has confirmed its annual updates to UK student loan interest rates and repayment thresholds.

UK caps student loan interest rates at six per cent

The UK Department for Education caps student loan interest rates at 6% for Plan 2 and 3 loans for the 2026-27 academic year. Learn about new repayment thre

Chancellor sticks with 6% student loan interest cap

standfirst: Interest rates jump for all student loan repayments as chancellor keeps 6% cap on interest set by Rachel ReevesIn the latest annual update to interest rates for undergraduate and postgraduate student loans, the Department for Education (DfE) has confirmed the maximum interest rate applied to plan 2 and plan 3 loans will stay capped at 6% between 1 September 2026 to 31 August 2027.Rachel Reeves's final months as chancellor were marked…