Student Loan interest increase from September

Following on from the Government announcement of March’s Retail Prices Index (RPI) rate of inflation at 1.6%, millions of students and graduates will be charged more interest on their student loans from September. The RPI rate of inflation is used to decide how much interest graduates pay on their student loans – a much higher figure than the 0.9% RPI figure from March 2015 used to calculate last year’s rates.