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    Hi, I am wondering what will happen with savings and student finance repayments.

    I started uni after 2013 so on payment plan 2 and the student finance website only mentions that if you have savings or investments over £2k you may have to pay more towards your student loan.

    I am concerned as I am trying to save up for a house deposit and I can't find anywhere what % of my savings I would have to pay towards student finance repayments alongside regular student finance repayments.

    Thank you
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    (Original post by keladry)
    Hi, I am wondering what will happen with savings and student finance repayments.

    I started uni after 2013 so on payment plan 2 and the student finance website only mentions that if you have savings or investments over £2k you may have to pay more towards your student loan.

    I am concerned as I am trying to save up for a house deposit and I can't find anywhere what % of my savings I would have to pay towards student finance repayments alongside regular student finance repayments.

    Thank you
    When they say £2k they don't mean savings of £2k - they're talking about INCOME (ie interest) from savings/investments that are more than £2kpa.

    If you save up enough for a house deposit that your interest is above £2k then you'll be living in a mansion (or you'd be able to buy a house with no mortgage!) :yes:
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    (Original post by PQ)
    When they say £2k they don't mean savings of £2k - they're talking about INCOME (ie interest) from savings/investments that are more than £2kpa.

    If you save up enough for a house deposit that your interest is above £2k then you'll be living in a mansion (or you'd be able to buy a house with no mortgage!) :yes:
    Thank you. Their website didn't say it that clearly.
 
 
 
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