Key money dates for August 2025

August brings sunshine (hopefully), family getaways and some important money updates. 

Here’s what to look out for to stay on top of your money this month.  

1 August  – student fees rise   

For the first time since 2017, the cap on university tuition fees in England is increasing.  

From 1 August 2025, the maximum amount universities can charge full-time students for an undergraduate loan will go up from £9,250 to £9,535 per year. 

This ends an eight-year freeze and will affect both current and future students.  

If you're starting university this autumn, make sure to update your budget to include the higher cost. 

7 August - Bank of England interest rate decision 

The Bank of England's Monetary Policy Committee (MPC) will meet on 7 August to review the base interest rate, which is currently at 4.25%. 

Their decision can influence mortgage rates, savings returns and borrowing costs. If you have a variable-rate mortgage or are thinking about fixing your rate, this is one to watch. 

This meeting is one of eight scheduled throughout the year. The MPC’s decision will be announced the same day. 

20 August - July inflation rate published  

The Office for National Statistics will publish July’s inflation figure on 20 August. This figure is closely watched because it typically determines next year's regulated rail fare increases. 

If you travel by train regularly, this could mean changes in your commuting costs. It’s also a useful snapshot of how the cost of living is shifting in the UK. 

August benefit and pension payments 

Most benefit and state pension payments will be made as usual in August. But the summer bank holiday on Monday 25 August may change some dates: 

• Payments due on 25 August will be made early, on Friday 22 August. 

• If you’re expecting payments on 23 or 24 August, they’ll also likely arrive on 22 August, since weekend payments are typically moved to the previous working day. 

This applies to payments from the Department for Work and Pensions, including universal credit, pension credit and others.