Year 12s: what will be the first way you research your future options? >>

Student loan - how much do you pay back?

Just wondering how much per month newly qualified pay back? Some people say it's not noticeable but others say it's quite high??

Reply 1

lilibet01

Depends on how much you earn! ie with London weighting, a 26k salary will be £60 per month (according to my mortgage advisor).

Reply 2

PaediatricStN

Original post by wbnurse

Just wondering how much per month newly qualified pay back? Some people say it's not noticeable but others say it's quite high??

I think mine is about £40 a month. I'll double check on my payslip when I get home :smile:

Reply 3

wbnurse

Original post by PaediatricStN

I think mine is about £40 a month. I'll double check on my payslip when I get home :smile:

Thankyou

I've estimated il be approx 84 when I've paid all mine off 😂

Reply 4

PaediatricStN

Original post by wbnurse

Thankyou

I've estimated il be approx 84 when I've paid all mine off 😂

Haha!

Ok, so my pay this month was at the higher end of the normal kind of range... And I paid £39 toward my student loan :smile:

Reply 5

Zainab96

85 years old? Its written off after 30 years plus u're only paying about £7000 back bcos u're currently receiving bursary? Which u dont pay back so im sure u'll pay it all of before 30 years. ppl starting in 2017 will have about £52,000 debt in student loan.

Reply 6

Zainab96

Original post by PaediatricStN

Haha!

Ok, so my pay this month was at the higher end of the normal kind of range... And I paid £39 toward my student loan :smile:

If u dont mind me asking, r u band 5 or 6 ?

Reply 7

wbnurse

Original post by Zainab96

I already have a loan from a previous degree.......

Reply 8

A321

I think its around £100 for me. Sometimes a bit less or more depending on shift enhancements.

Posted from TSR Mobile

Reply 9

deviant182

I've already started paying mine back from a previous degree even though I'm still currently a student and don't earn enough.
They work it out month by month and then see if you need to pay anything back....
Some months I've paid £5...others I've paid around £40.
Depends on your monthly pay.
They take a percentage (can't remember what.. I have it written down somewhere).
It also depends on if you have a loan from prior to 2008 (is it?) When the loan system changed.
Basically...ring student loans and ask them for clarification.
They've been really helpful when I've asked.

Posted from TSR Mobile