{"id":233039,"date":"2022-04-13T14:08:09","date_gmt":"2022-04-13T14:08:09","guid":{"rendered":"https:\/\/omni48.com\/news\/graduates-to-be-hit-with-brutal-student-loan-interest-rates-of-up-to-12"},"modified":"2022-04-13T14:08:09","modified_gmt":"2022-04-13T14:08:09","slug":"graduates-to-be-hit-with-brutal-student-loan-interest-rates-of-up-to-12","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/graduates-to-be-hit-with-brutal-student-loan-interest-rates-of-up-to-12","title":{"rendered":"Graduates to be hit with &#8216;brutal&#8217; student loan interest rates of up to 12%"},"content":{"rendered":"<p>&#8216;Students aren&#8217;t cash cows, and we can&#8217;t keep taking the brunt of this government&#8217;s regressive actions that have left millions exposed to hardship,&#8217; said the NUS&#8217;s Hillary Gyebi-Ababio.Interest rates on student loans are set to soar to as high as 12%, costing higher-earning graduates an extra &#163;3,000 unless the government intervenes, according to the Institute for Fiscal Studies.Interest rates on post-2012 student loans are based on the retail prices index, with the rise in the RPI in March meaning most recent graduates in England and Wales will be charged 9% from September, up from the current rate of 1.5%.The IFS analysis found higher-earning graduates would be most directly affected by the increase, since they were more likely to repay their entire loan within 30 years of graduation. Other graduates would see any outstanding balance wiped after 30 years.Highly paid graduates &#8211; those earning more than &#163;49,130 a year &#8211; are charged an additional three percentage points (v low earners), so<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Interest rates on student loans are set to soar to as high as 12%, costing higher-earning graduates an extra &#163;3,000 unless the government intervenes, according to the Institute for Fiscal<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[33,177,27,96],"class_list":["post-233039","post","type-post","status-publish","format-standard","hentry","category-news","tag-business","tag-colleges","tag-economy","tag-education"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/233039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=233039"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/233039\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=233039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=233039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=233039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}