Written Question·Department for Education·UIN 110595

Students: Loans

Tabled: 3 February 2026

Answered: 16 February 2026

Named Day

Question

Michael Wheeler

To ask the Secretary of State for Education, what assessment her Department has made of the potential impact of the RPI plus 3 per cent interest rate on Plan 2 student loan debt on the ability of graduates earning the UK median wage to begin to pay down t

Answer

Josh MacAlister

Plan 2 interest rates vary with income when the borrower has left study and is in repayment. The lower interest threshold, below which borrowers are charged an interest rate of RPI+0%, is currently £28,470. Interest then increases on a sliding scale to RP...

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