Multiple Student Loans

edited 3 May 2021 at 5:20PM in Loans
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jenluijenlui Forumite
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edited 3 May 2021 at 5:20PM in Loans
I have an old student loan for which I am repaying £100 month from my salary. I never finished my degree and am considering going back and studying part time whilst working. If I take out a part time tuition fee loan then will I have 2 make 2 repayments or wil it stay the same because I am already paying 9% of what I earn over the threshold.? Or are the full time and part time loans collected separately?

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  •  Collected together in one payment but both calculated separately to give the figure collected as both under different terms. 
  • jenluijenlui Forumite
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    So would I pay more than the 9%
  • MalMonroeMalMonroe Forumite
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    This information should help. https://www.gov.uk/repaying-your-student-loan/when-you-start-repaying

    You are doing exactly the same thing as my daughter - she never finished her degree and is repaying the loan. She started on a new degree at the beginning of this year and took out another loan to study part time.

    She won't start repaying the new loan until the April 4 years after the course started.

    So you will carry on making payments as you are, unless your salary drops below the threshold of your payment plan. 

    You do not start repaying the second loan immediately after graduating. And when you have finished studying, the loans will obviously have to be recalculated. 

    The finance department of the institution you apply to should have all the details of this. 
    Please note that comments are strictly my own opinion, intended to help - never hinder. If they do not help then please ignore as the intention of the forum is to help everyone, if possible. MSE forum rules clearly state "no two people have the same circumstances or experiences and it is up to you to investigate, check and check again before you make any decisions or take any action based on information you glean from our community. Remember, don't rely on what you are reading. Verify it and protect yourself. You are responsible for any action you consequently make." It's always best to verify everything. Inappropriate comments will be reported, as per the Forum rules.
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