Struggling with Student Loan Repayments

lixhul

Hi guys, I have all 3 plans: Plan 1, Plan 2, and Post Graduate.

My student loan repayment is just as much as my national insurance. On a £37K salary I am paying £206 a month in payments. On top of National Insurance, Income Tax, Pension, and CSA, it's around half of my income is gone before I get it.

Is there anything I can do to reduce the student loan repayment please, or is there absolutely nothing?

Thank you.

MattMattMattUK

lixhul said:

Hi guys, I have all 3 plans: Plan 1, Plan 2, and Post Graduate.

My student loan repayment is just as much as my national insurance. On a £37K salary I am paying £206 a month in payments. On top of National Insurance, Income Tax, Pension, and CSA, it's around half of my income is gone before I get it.

Is there anything I can do to reduce the student loan repayment please, or is there absolutely nothing?

Thank you.

Nothing can change the amount you pay beyond the amount you earn, they are fixed and set out in legislation.

You could always post an SOA on the Debt Free Wanabee section of the site so that they could help you with other costs. 
https://www.lemonfool.co.uk/financecalculators/soa.php

silvercar

That calculation looks correct.