To Whom it my concern,
I will be taking out the full £10, 000 masters loan in the 2016/2017 academic year. I also currently have an undergraduate student debt. I started my undergraduate course before 2012, so the interest rate on this (currently 0.9%) is substantially less than the current amount for the masters loan (3.9%).
I know based on the information released that the two loans will be kept separate for the purposes of repayment. My question is if I wanted to make voluntary repayments once I start earning, would it be possible to specifically make these to the postgraduate loan, or will voluntary repayments have to be split between the two debts? Obviously it would make more sense to clear the higher interest loan before the other, but I would like to know if this is possible.
Thank you very much for your time,
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