Student Loans Set To Increase

guitarman001

Don't know if this affects Scottish students (?):

http://www.bis.gov.uk/policies/higher-education/students/student-finance

With RPI at 5%+, you could be paying back up to 8% on your loan each year if you earn up to £41k!

CLAPTON

guitarman001 wrote: »

Don't know if this affects Scottish students (?):

http://www.bis.gov.uk/policies/higher-education/students/student-finance

With RPI at 5%+, you could be paying back up to 8% on your loan each year if you earn up to £41k!

rubbish
it doesn't say that

guitarman001

Have I misread it then? How about this excerpt:

For graduates earning between £21,000 and around £41,000, a real rate of interest will start to be charged, reaching a maximum of RPI plus 3%.

guitarman001

So.......?

EdW_2

Not quite sure what the point is?

The student loan is an incredibly generous loan, and, quite rightly, the more you earn, the more you pay.

It's effectively an additional income tax (administered through pay), and it's one which you'll find very, very few people are sympathetic about, as ultimately if you don't pay it back, it comes out of everyone else's tax payments!

Taiko

You also know any rate increases only apply to student beginning after September 2012, right?