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Choices for decreasing the rate of interest on student loans and reintroducing maintenance grants

In the Prime Minister called for an inquiry into the student loan system for higher education (HE) october. In this briefing note, we give attention to two for the more unpopular attributes of the system that is current. We explore federal government alternatives for decreasing the rates of interest charged on figuratively speaking, through the present amounts of RPI + 3% while learning and RPI + 0–3% (based on income) after making college, as well as for reintroducing living-cost grants – which don’t need to be repaid – for students from lower-income families. This briefing note will be submitted as proof when it comes to inquiry.

Key findings

  • Good genuine rates of interest on pupil loans raise the debt amounts of all graduates but just boost the life time repayments of higher-earning graduates. Getting rid of them doesn’t influence up-front federal government investing it does slightly increase the deficit (due to the slightly confusing treatment of interest accrued on student debt in the government finances) on HE, but. Continue reading