The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.

From September 2023, the interest rate on student loans will also be set to RPI+0%. Additionally, the length of time that students have to pay their loans back until they can be written off has been extended from 30 to 40 years.

University tuition fees have been capped at £9,250 for the next two years and will not rise with inflation.

If you would like any advice about the changes to the student loan repayments, please do contact us by calling 0115 928 3228 or by emailing info@coalesco.co.uk.