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    I've been on the student calculator site for repayment and the interest rates gave me a fright, about even becoming a student with massive debt.


    I presumed some input values about my prospect of being a student with 3 years worth of debt.

    If I borrowed £9000 per year for 3 years, and £1000 for maintenance,
    and assumed my earnings would be £18000 after graduation,

    My repayment would be this

    YearLoan AmountAnnual RepaymentAnnual Interest Rate0£33,423£02.5%1£34,258£0 2.5%2£35,115£902.63%3£35,946 £3282.94%4£36,671£5373.19%5£3 7,296£7903.47%6£37,789£1,0103 .69%7£38,157£1,2073.87%8£38,4 04£1,4634.08%9£38,483£1,6184. 18%10£38,442£1,7994.29%11£38, 257£1,9284.34%12£37,949£2,081 4.4%13£37,496£2,2274.45%14£36 ,891£2,3064.43%15£36,173£2,44 74.46%16£35,290£2,6564.54%17£ 34,181£2,7954.56%18£32,885£2, 7624.45%19£31,529£2,9074.46%20 £29,970£3,0834.49%21£28,170£ 3,3204.56%22£26,065£3,4664.56% 23£23,714£3,6744.59%24£21,051 £4,0084.68%25£17,944£3,9744.5 7%26£14,707£4,2434.62%27£11,0 54£4,6924.74%28£6,785£4,8994. 74%29£2,103£2,1264.76%Interest is included in the calculation above:Retail Price
    Index (RPI)
    2.5%+interest rate based
    on your salary

    What worries me is how much I would be paying by Year 28, £5000 a year would be a hefty chunk.

    Are these percentages taken off your salary linked to a proportion of whatever level you are earning?

    Let's say I am earning less that predicted salary for a graduate with 28 years work experience, would I be expected to still pay that £5000 per year return at Year 28, or this is table just a guideline of what would ideally be paid back in ideal situations.

    After nearly 30 years, I'd be paying back more than 100% of what I borrowed
    Estimated Results
    • First monthly repayment: Help
      Monthly repayments will vary depending on your salary£0
    • Repayment start date:April 2020
    • Time to repay: Help29yrs 5mths
    • Total amount borrowed: Help£30,000
    • Total amount repaid: Help£68,436
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    • Official TSR Representative

    Official TSR Representative
    Hi topicoa

    I would advise you to look at the student loan repayments website: http://bit.ly/1kg0AGq

    The time it takes to pay off the loan will depend on your salary. The interest rate (for plan 2) is also RPI + 3% so will depend on the RPI.

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