{"id":159981,"date":"2023-10-18T14:51:13","date_gmt":"2023-10-18T12:51:13","guid":{"rendered":"https:\/\/www.erasmusmagazine.nl\/en\/?p=159981"},"modified":"2025-12-19T11:27:01","modified_gmt":"2025-12-19T10:27:01","slug":"the-interest-rate-on-student-loans-was-11-percent-once-will-that-happen-again","status":"publish","type":"post","link":"https:\/\/www.erasmusmagazine.nl\/en\/2023\/10\/18\/the-interest-rate-on-student-loans-was-11-percent-once-will-that-happen-again\/","title":{"rendered":"The interest rate on student loans was 11 percent once. Will that happen again?"},"content":{"rendered":"

With the interest rate on student loans set to increase fivefold next year, questions abound. How much will the hike cost students? Why can\u2019t the rate be lower? Is the new percentage already set in stone or is there still some political wiggle room?<\/p>\n

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\n\t\n\n<\/svg>\n<\/span>\n\tImage by:<\/span>\n\n\t\t\t\n\t\t\t\t\t\t\tMigle Alonderyte<\/a>\t\t\t\t\t<\/span>\n\t<\/p>\n<\/figcaption><\/figure>

For years, students paid no interest at all on their student loans. Then, the rate for 2023 was suddenly raised to 0.46 percent, and now a further increase has been announced for 2024, to 2.56 percent.<\/p>\n

The news has been met with widespread disbelief: life is expensive enough as it is, so why charge students interest? How high can the interest rate go? And how much more will students be paying? This Q&A answers these questions and more.<\/p>\n\n\t

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