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<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>
<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>
<a https://www.thestudentroom.co.uk/showthread.php?t=7467335'> Year 12s: what will be the first way you research your future options? >>

Questions about student loans

Hello, I'm going to apply for the medicine courses starting in 2017, I think I will have to take the student loans, and I was wondering what's the percentage of students who take student loans? And also, once you start working, can you only pay a certain percentage of your salary or if can you decide to pay more, in order to estinguish the debt earlier?
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Klix88
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Original post by tommaso99
Hello, I'm going to apply for the medicine courses starting in 2017, I think I will have to take the student loans, and I was wondering what's the percentage of students who take student loans?

I don't know if there are any stats, but it must be a very high proportion. Tuition fees alone are up to £9000 a year, then there are living costs on top. Very few students or families have a spare £14,000+ a year to pay for uni without Student Finance loans.

The nearest I came across in my undergrad cohort, was someone whose father said he'd pay off their student loan in full if they graduated with a 2:1 or a First.

And also, once you start working, can you only pay a certain percentage of your salary or if can you decide to pay more, in order to estinguish the debt earlier?

You can make additional voluntary payments on top of the mandatory wage deductions if you want to.

However, bear in mind that any outstanding loan will be automatically wiped out after thirty years (under current terms & conditions). You may find that making additional repayments will mean that you repay more than you need to.
(edited 8 years ago)

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