Lords demand cut in student loan interest rates

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The interest rate charged on post-2012 student loans should be reduced to 1.5%, a parliamentary committee has said.

The House of Lords economic affairs committee says that a reduction in the interest rate would be "fairer" for students, and that interest should not be charged on loans until students have graduated.

The Treating Students Fairly: The Economics of Post-School Education report also claims that funding for post-school education is "too heavily skewed" towards degrees, while funding for other options is "less generous".

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