Fresh Blog

Naturally, prospective students are concerned about the rising student loan interest rates. In just two months, online searches relating to student loans have increased an average of 4,656%. Here are the top concerns among students:<\/span><\/span><\/span><\/span><\/span><\/h4>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n

\n Search Term<\/span><\/b><\/span><\/span><\/p>\n<\/td>\n	\n % Change<\/span><\/b><\/span><\/span><\/p>\n<\/td>\n	\n # Change<\/span><\/b><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Student Loans Interest Rates<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 73,100.50%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 92,655<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Student Loan Interest Rates UK<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 379.06%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 7,121<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Student Loan Interest<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 349.67%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 6,793<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n HMRC Student Loan Contact<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 344<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Plan 1 Student Loan Interest Rate<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 3,116<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Student Halls<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 1,719<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Bank Of England Base Rate<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 35,562<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Maintenance Loan Application<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 54<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n Student Loan Deadline 2022<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 107.85%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 634<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n When Do You Start Paying Back Student Loan<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 44.12%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 914<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n
\n University Application<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 14.99%<\/span><\/span><\/span><\/p>\n<\/td>\n	\n 121<\/span><\/span><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Based on online search data from 13th<\/sup> April 2022 to 11th<\/sup> June 2022 compared to the previous period.<\/span><\/span><\/i><\/span><\/span><\/p>\n It’s yet to become apparent how university applications will be affected. This year, applications saw a slight dip, <\/span><\/span><\/span><\/span>down 1% on 2021<\/span><\/a><\/a>. Following the changes to student loan interest rates, we may see a decline in interest similar to that of 2012, when applications dipped 7.6% as a result of fee increases.<\/span><\/span><\/span><\/span><\/span><\/h4>\n Try not to let student loan interest rates put you off going to uni<\/span><\/span><\/span><\/h2>\n If you’re looking to apply for university, it’s understandable to be concerned about the changes to student loan interest rates. If you’re worried about paying for your studies, try to keep in mind the following:<\/span><\/span><\/span><\/span><\/p>\n \n Student loan repayments only start once you’re on an annual salary of £27,295 (or £2,274 per month), and you don’t have to start the repayments until the April after you graduate at the very earliest. What you pay back depends on your earnings after university, so you won’t be paying back more than your salary makes affordable. <\/span><\/span><\/span><\/span><\/li>\n Student loans are automatically repaid through your payroll once you start working, so you don’t have to worry about organising repayments or being chased by debt collectors.<\/span><\/span><\/span><\/span><\/li>\n After 30 years, all your student loan debt is wiped, no matter how much remains outstanding. In fact, many people never repay their whole student loan.<\/span><\/span><\/span><\/span><\/li>\n Failing to repay your student loan has no impact on your credit rating.<\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n For more information and tips on student loans, visit Money Saving Expert’s in-depth guide here<\/a>.<\/span><\/span><\/span><\/span><\/a><\/a><\/span><\/p>\n If you’re a Fresh resident and are looking for resources and support, please feel free to get in touch with your Fresh Residents' Team<\/span><\/span>.<\/span><\/span><\/span><\/span><\/p>\n  <\/div>\n","protected":false},"excerpt":{"rendered":" Interest rates have increased to 1.25% in June 2022. If you’re planning to go to university, taking into account this increase is important as it may impact the cost of your student loan. Read on to discover what the interest rates on student loans is and how this has changed. What are interest rates and […]<\/p>\n","protected":false},"author":22,"featured_media":4666,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[73],"class_list":["post-4645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-living","tag-student-loan-interest-rates"],"metadata":{"_yoast_wpseo_title":["Student Loan Interest Rates UK | Fresh"],"_yoast_wpseo_metadesc":["Interest rates have increased, but what is the interest rate on student loans? Learn how 2022\u2019s interest rate changes may impact your university costs."],"_yoast_wpseo_metakeywords":["student loan interest rates, student loan interest rates uk, student loans interest rates, what is the interest rate on student loans"],"_thumbnail_id":["4666"]},"yoast_head":"\n