For undergraduates, student education loans may appear to be a worrying quantity of financial obligation – however you will pay just right straight back 9% of the profits above a specific earnings. Browse our guide that is quick to down what you need to find out about student loan repayments.
Great britain’s education loan system
You deal with the student finance body for the nation where you originally live – England, Northern Ireland, Scotland or Wales when you take out a UK student loan. The loan itself is administered by the learning student Loans Company. Unlike a loan that is commercial that which you repay is based on your profits, perhaps maybe maybe not exactly how much you borrowed.
Present undergraduates are going to come under 1 of 2 education loan repayment systems – Arrange 1 or Plan 2 – which have various thresholds and prices for repayment. Continue reading