You are told by us about Student Loan Repayment

Can it be safer to save yourself or repay it?

It is a question that is simple through the lips of over four million previous graduates. “If i have got more money, do I need to spend my student loan off? ” The solution is dependent upon whether you’ve other debts when you studied, as that dictates whether your interest is 3.3% or 1.75percent.

This guide that is easy-to-follow for almost any pupil whom started uni before 2012, and Scottish and Northern Irish pupils starting subsequently. We will speedily just simply take you through how exactly to work your situation out, the manner in which you’re impacted and answer one of the keys ‘should we pay it back? ‘ concern.

English or Welsh pupil who started college in 2012 or later on? This is not for you personally. See Martin’s ‘Student’s interest now 5.4%’ guide.

This guide just covers official figuratively speaking Company (SLC) loans, maybe not private, job developing or studies loans that are professional. For all see our pay back Debts With Savings? Guide.

In this guide

Would like to watch as opposed to read? See Martin’s movie below

Step one: always check YOUR education loan kind

A generation that is whole of are in possession of figuratively speaking. Anybody who began advanced schooling since 1990 was qualified – so even people who graduated 25 years back could have them still.

Unfortunately several thousands of people experienced little, if any, training on these things – for loads more information on what this can be rectified, begin to see the Financial Education Campaign that is full area.

Just how student education loans work varies radically dependent on once you began advanced schooling.

Click tab for information about your loan kind. Searching for information about 2012+ loans in England & Wales? Martin’s written a guide that is new to your loans.

Who has got them? Everybody who began advanced schooling between 1998 and 2011, and Scottish and Northern Irish pupils starting after 2012. (more…)

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