Students: Loans
Commons · Question 126290 · Tabled 10 Apr 2026 · Department for Education · Official record
Answered 22 Apr 2026
Question
Asked by James McMurdock
To ask the Secretary of State for Education, with reference to her Department’s press release entitled Interest rate cap introduced to protect Plan 2 borrowers, published on 7 April 2026, what assessment she has made of the potential impact of the cap on
Answer
Answered by Josh MacAlister, 22 Apr 2026
The government is capping the maximum interest rates on Plan 2 and Plan 3 student loans at 6%, instead of the Retail Prices Index (RPI) plus 3%, for the 2026/27 academic year. This short term measure will protect students and graduates from the potential ...