Might start paying the education loan throughout the April just after your end the path – when you initiate a position you to brings in along the tolerance
For those who earn much more than ?19,884 – that’s ?382 per week otherwise ?step 1,657 thirty days – 9% from everything you secure over this can go to the paying your education loan (up to ?34 weekly otherwise ?149 a month)
That it tolerance changes in April of each year, constantly rising (meaning you can generate a whole lot more one which just spend, together with charge applies to a reduced amount of your revenue)
The debt try cleared during the 65 for people who took the mortgage in advance of 2006, or 25 years when you started investing for those who got the fresh new loan following.
Plan 2 – for folks who started uni once initially
You begin paying the financing right back the newest April four years immediately after the start of your own movement, or the April after you become otherwise exit their path
Continue reading “Plan 1 – for people who been uni prior to first”