Turn on thread page Beta
    • Thread Starter
    Offline

    1
    ReputationRep:
    Hi
    just need comfirmation. Is RPI for 2018 now 3.8% ( and in 2017 was 4.1%)

    And to comfirm,

    The RPI is the interset on the debt and that this will increase by RPI, the 3.8%, so in one year, if you have a debt off £100, you will owe 3.8% of this amount in interest alone, so you will now owe £103.8
    (This will then be compounded over the following years)

    and lastly

    When your earning is over £21 000, you will start to pay off the debt, been (on a sliding scale) charged up to 3% if you are earning £41 000.
    So for the example of £100, you incurre £3.80 in debt, say you walk into a job of £41 000, you then pay an additional 3% (£3) so after a year you have not payed anything back but instead of owing £103.8 you now owe £100.8

    (aware you start paying RPI moment start the course so by the time you finish you be owing more that the £100)

    Any help be appreciated
    Thanks
    Richard
 
 
 
Poll
Cats or dogs?
Useful resources

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.