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<p>The system for setting interest rates on student loans is set out in The Education
(Student Loans) (Repayment) Regulations 2009, as amended.</p><p> </p><p>Student loans
have much more favourable terms than commercial loans and the Government regularly
monitors the interest rates set on student loans against the interest rates prevailing
on the market. The most appropriate comparators for undergraduate student loans are
the effective interest rates available on unsecured personal loans, as published by
the Bank of England (data series CFMBJ77 and CFMBJ94).</p><p> </p><p>We continue to
monitor Covid-19 impacts on students and work to understand the issues they face.</p>
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