How much would I have to repay if I earned over £21,000 and borrowed on both plans?
Okay finding this really confusing...
Did a 5 year course at Edinburgh uni, one year of which was Erasmus so no tuition fees. It was on the old plan as I started the course in 2010. I got the maximum loan and grant given my parent's low household income. It was also back when tuition fees cost only £1850 (approx).
From September I am going to be doing a PGCE at UCL. £9000 for the year, plus planning on getting the maintenance loan, which I think is around £5800.
Say I were to earn over £17,000 or £21,000 a year, what would the maximum amount I would have to pay back be per year and per month? I know this would be a very average amount, but I am worried about going in to teacher training given how in debt I already am.
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Concerned about going into Teacher Training given how much I owe for undergraduate... watch
- Thread Starter
- 06-03-2016 13:36
Mark Lee - SFE Official Adviser
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- 21-03-2016 12:20
You pay back 9% of earnings over the threshold. Current plan 1 threshold £17335 and plan 2 £21000
There are some examples at the bottom of this page: http://bit.ly/19gREvX