Borrowing Money for School

What is the Student Loan Interest Rate?

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In Brief...

For anyone already in receipt of a Student Loans Company student loan or considering taking out an SLC student loan, one of the key questions to ask is " The Student Loans Company is a public sector organisation designed to facilitate lending with social rather than commercial objectives at heart. Interest rates are charged at the lower of either, the rate of inflation or the Bank of England base rate plus one percent. At present this means that interest is currently being charged at 1.5% or the Bank of England base rate (0.5%) plus 1%.. As such, the Student Loans Company does not actually make a profit from interest charges levied..

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