The planned changes will affect students who are new starters from academic year 2023/24 onward.
Those changes include:
- New borrowers from 2023/24 will see interest being added to their loans at the rate of inflation.
- New borrowers from 2023/24 will have their repayment threshold set at £25,000 until 2026/27.
- New borrowers from 2023/24 will have their repayment term set over a maximum of 40 years (instead of the current maximum of 30).
Read more on the gov.uk website.
Published: 2 March 2023