Student loan interest rates fell in September, from 4.8% to 3.8% as reported here.

But now even more good news, student loans are again seeing another fall in interest from the 5th December. The new rate is 3%. Which should bring some welcome festive cheer to most students and those paying back their loan.

But why the sudden change?

The interest rate is usually set by the Retail Price Index figure for March, this then sets the rate from the September following. Alternatively, if lower, the rate is set from “the highest base rate of a number of major banks plus 1%”.

Usually RPI is lower. But due the current ‘credit crisis’, the Bank of England has been slashing the base rate. It currently stands at 2%. This has led to the interest rate on Student loans being reduced to 3% from the 5th December 2008.

So what does the future hold? Will rates go up or down?

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photo by jenn_jenn’s

Welcome to the twelfth money making report, here’s the last one.

Money seems to still be flowing in at the moment, which seems very strange to me. Although the global recession is starting to bite, I seem to be avoiding the problems floating around at the moment. Hopefully this will last.

Well on to the figures!

[Read more]

photo by jenn_jenn’s

Welcome to the eleventh money making report, here’s the last one.

Well not a lot has happened!

Not a lot to report other than a brand new header design, a bit more tidying up of the theme will also be undertaken. I won’t bore you with sore random rubbish, so here’s the important numbers… [Read more]