Tag: student loans

Students to face higher interest rates on loans

Students to face higher interest rates on loans

The Russell Group, which represents 20 elite, research-intensive universities, has suggested that graduates may have to start paying back their student loans earlier and at a higher rate of interest, in order to prevent a major funding crisis. Following an official review of student finance and fees, the group warned that the financial sustainability of […]

May 14, 2010 More
Student loans encourage culture of debt

Student loans encourage culture of debt

Students are racking up crippling debts because they’re not being taught the difference between student loans and other forms of credit, a financial education charity warned this week. Chris Tapp, director of Credit Action, said because it’s “basically impossible” to get into difficulties with student loans, students are given the message that it’s fine to […]

University a “millstone” for many parents

University a “millstone” for many parents

The cost of putting their children through university is forcing some parents to remortgage their home, The Children’s Mutual revealed this week. Students starting university this year will spend an average of £42,000 during their three-year course, and many parents will be expected to fund the majority of this bill. “University can be as much […]

Graduates too poor to pay back student loans

Graduates too poor to pay back student loans

Half the university students who graduated since tuition fees were introduced are too poor to pay back their student loans. Of the 1.4 million graduates who started university after 1998, 702,000 are earning too little to pay back debt accrued whilst studying. Repayments are triggered when graduates start earning at least £15,000 per year; over […]