Graduate loans on the increase

Graduates are facing a hard time with their interest bills at the moment. With student loan rates linked to inflation, this last year has seen rates jump up. Should they be looking for additional borrowing by way of a graduate loan, it’s not good news to see Lloyds TSB and NatWest increase their rates this week.

Samantha Owens, Head of Personal Finance at Moneyfacts.co.uk commented: “In line with the rest of the mortgage market rates, graduate loan rates are staring to increase. Graduates should not assume that these specialist deals will offer them the best rate. With significantly lower rates to be found in the market it’s worth shopping around.”