Another bright idea from the House of Rothschild!! Raising interest rates on student loans that are still outstanding. Its bad enough that the system traps you in a web of debt but to turn the screw on a debt from years ago is evil. "Removing the cap would, however, burden graduates with years of extra repayments, lasting in some cases until the end of their working lives. At the moment, the cap on student debt taken out before 2012 keeps repayment rates at 1.5%. Lifting it would mean a rate of 3.6%, in line with RPI in March 2012. One indicative calculation suggests that an employee on £25,000 a year, with £25,000 of undergraduate loans taken out before 2012, could work until retirement without ever paying off their debt if the interest rate cap were removed." guardian.co.uk/money/2013/jun/13/raise-interest-rate-student-loans-secret-report
Posted on: Fri, 14 Jun 2013 03:21:20 +0000
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