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    I'm not going to University this year (2011 entry) because I kept putting off applying and didn't know what I wanted to study, so like a tool, I've got to go next year.

    I know the tuition fees will be massively higher and this is sort of putting me off altogether.

    I just need some clarification of the monthly repayments after you graduate.
    For instance, you'll pay back this much a month if you earn "25k pa etc.


    Thanks for any help

    Sorry if there's other threads on this but I don't really have a clue where to look
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    work out 9% of everything over £15K.
    That's what you'll pay.
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    (Original post by JoeMH)
    I'm not going to University this year (2011 entry) because I kept putting off applying and didn't know what I wanted to study, so like a tool, I've got to go next year.

    I know the tuition fees will be massively higher and this is sort of putting me off altogether.

    I just need some clarification of the monthly repayments after you graduate.
    For instance, you'll pay back this much a month if you earn "25k pa etc.


    Thanks for any help

    Sorry if there's other threads on this but I don't really have a clue where to look
    Use this calculation to find out your monthly repayment:
    ((Salary-15000)/100*9)/12
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    (Original post by Delaney)
    Use this calculation to find out your monthly repayment:
    ((Salary-15000)/100*9)/12
    If the salary is higher than 15000 does that calculation still apply?
    Obv changing the 15000 though.
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    (Original post by hypocriticaljap)
    work out 9% of everything over £15K.
    That's what you'll pay.
    Erm no, the OP will be starting in 2012 and as such will be using new system for repayments.
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    (Original post by JoeMH)
    If the salary is higher than 15000 does that calculation still apply?
    Obv changing the 15000 though.
    Yes. Don't change 15000. Where the word salary is, change that word to your actual salary e.g 30000, 50000 or whatever.
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    Work out 9% of everything over £21K then.
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    So for 25k a year you'd be paying back £30 a month
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    £21k or below: £0 a month
    £22k: £7.50 a month
    £25k: £30 a month
    £30k: £67.50 a month
    £35k: £105 a month
    £40k: £142.50 a month
    £50k: £217.50 a month
    £100k: £592.50 a month

    You keep paying until you've paid off your debts or 30 years have passed since graduation, whichever comes first.

    Monthly repayments are lower under the new system, making it easier when you leave uni and are in a low paid job and/or are looking for a house, starting a family etc. You will probably end up paying more overall though.

    eg old system:

    £21k: £45 a month
    £30k: £112.50 a month
    £40k: £187.50 a month

    Quite a big difference in monthly payments :O
 
 
 
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