Life after Student Loan

longtallgoose
longtallgoose Posts: 5 Forumite
First Anniversary
in Student MoneySaving
Hi guys,
Just a quick query, I've predicted I'll pay off my Plan 2 student loan in February 2020, I was just wondering how my net salary is worked out?

I pay approx £280 towards my student loan at the moment as a deduction alongside my PAYE and NIC etc.

When I've finished paying this off will I be £280 better off NET, or will my PAYE & NIC go up to reflect this increase?

Thanks!

Comments

  • silvercar
    silvercar Posts: 46,939 Ambassador
    Academoney Grad Name Dropper Photogenic First Anniversary
    You should be £280 better off.

    Congratulations!

    You must be doing very well as the earliest Plan 2 loans only went into repayment April 2016.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • longtallgoose
    longtallgoose Posts: 5 Forumite
    First Anniversary
    Oh that's amazing - thanks! I only had around 10k in maintenance loans as my course was funded, hence how I've been able to pay it off!
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