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guess salary from student loan payment?

daxu
daxu Posts: 188 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Loans
Hi,
Just interested to know.
My colleague at work says he pays 150£ a month for his student loan and based on that, everyone should know how much he earn.

I don't have a student loan, so is he just joking or you can at least guess a range of someone's salary based on student loan payment?

Many Thanks
Jerry

Comments

  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    Is this a joke?
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    student loans are repaid at 9% on earnings above 1250 per month so he earns 150/9% = 1,667 +1250
    i.e. 2916 per month
  • LoopyPrune
    LoopyPrune Posts: 205 Forumite
    I can now sleep at night.
    Credit card and overdraft at 18. 2 loans and 3 storecards at 20. University education flushed down the toilet through debt at 22. Car finance at 23. Car repossessed at 24. Rock bottom at 25. Learnt my lesson 26-33. Now 34 with a mortgage on an affordable house, a car paid for with cash and a bank account in credit. I learnt the hard way.
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