Record £4.8bn interest added to student debt in Britain last year

Figure more than doubled in a year, as interest rate in England and Wales hit 6.3% in line with government capRishi Sunak’s government has more than doubled the amount of money it makes from charging interest on student loans, official figures show, as graduates face borrowing costs of almost twice the rate set by the Bank of England.According to the latest snapshot of the public finances from the Office for National Statistics, accrued interest on student loans swelled to £4.8bn in