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Graduates face extra £16,000 of debt because of the way the government ‘cherry picks’ inflation on loans
GRADUATES face sinking up to £16,000 deeper into debt because of the way the government “cherry-picks” the inflation rate it uses to set the interest on student loans.
New House of Commons Library analysis shows the costs to students of the government using the higher RPI rate of inflation for loans, even as it uses CPI for benefits.
RPI, which includes housing costs, is forecast to be 1 per cent higher than CPI over the next five years.
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