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News, Student Debt

“The £6,000 interest charge hidden in new student loans that will be handed to graduates the day they leave university”

“Exorbitant interest rates on new university loans mean that average middle-class students will owe £6,000 more on the day they graduate than they originally borrowed to fund their three-year course.

From the moment they receive the first tranche of their loan, they will begin racking up interest at a crippling rate which is 3 percentage points above inflation and higher than at most high street banks.

A Daily Mail investigation found that typical students will have to borrow £43,500 to fund their higher education over a three-year course – £9,000 a year for tuition and £5,500 a year for living costs.”

Read more here…http://www.dailymail.co.uk/news/article-2012705/6k-charge-hidden-new-student-loans.html

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