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Student loan interest rate set for 2008-09
Monday, 25 February 2008
Student loan interest rate set for 2008-09
The interest rate on student loans for the 2008-09 tax year has been set at 6.7%, down from 6.8%, Revenue Minister Peter Dunne announced today.
“The interest rate, for those borrowers who still have to pay interest on student loans, is based on a five-year average of the ten-year bond rate, plus a margin to cover administration costs,” Mr Dunne said.
The new rate was approved by Order in Council today.
ENDS
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