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Sharp increase in interest rates on student loans.

Sharp increase in interest rates on student loans.

Millions of students and former students in England and Wales will face a sharp increase in interest rates on tuition fees and maintenance loans.

The interest rates are linked to inflation - and are set to rise by about a third from 4.6% to up to 6.1%.

It will come in the autumn alongside an increase in tuition fees to £9,250 for universities in England.

The Department for Education is also trying to sell off more student loan debt to private investors.

An education department spokeswoman said that rates for the autumn are "not confirmed" until September.

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