Does my Student Loan repayment go up?
Hi
I started Uni in September and left a few months later (before December) and I have to repay about £4000 but I noticed it has gone up from what it originally was and I don't really understand it. Will it stop going up at some point? I can only pay so much a month at the moment so if its going up I will essentially be wasting money until it stops going up.
I started Uni in September and left a few months later (before December) and I have to repay about £4000 but I noticed it has gone up from what it originally was and I don't really understand it. Will it stop going up at some point? I can only pay so much a month at the moment so if its going up I will essentially be wasting money until it stops going up.
It is not a tax free loan.
The current interest rate is 1.5 % APR
This interest will be added each month until you have payed off the whole loan - as with any other loan.
I guess this is the increase you are talking about.
If it is going up 1000's of pounds then it hasn't been cancelled correctly.
The current interest rate is 1.5 % APR
This interest will be added each month until you have payed off the whole loan - as with any other loan.
I guess this is the increase you are talking about.
If it is going up 1000's of pounds then it hasn't been cancelled correctly.
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