Andy Burnham government announces new repayment rules for student loans

NewsMidlands NewsEducationThe Department for Education has confirmed05:58, 11 Aug 2026Andy Burnham has confirmed new student loans interest rates for people with student loans. The Department for Education has confirmed annual updates to interest rates for undergraduate and postgraduate Income Contingent Student Loans, repayment thresholds for Plan 1 Income Contingent Student Loans, and the interest rates and deferment threshold for Mortgage Style Student Loans.‌It comes as analysis this week shows that amounts being repaid by today’s graduates in England are more than double those paid under plan 1, which was in place before the coalition government in 2012 raised annual undergraduate tuition fees from £3,375 to £9,000. Plan 2 ran from 2012 until 2023.‌Labour Party MP Lucy Powell, the new