ubermaus Posted February 2, 2015 Share Posted February 2, 2015 What is the interest rate and repayments? From what I've seen (and from what my kids pay) it doesn't seem too bad.. Its enough.... ---------- Post added 02-02-2015 at 12:40 ---------- Think they've added another 7 or 8 grand on. Link to comment Share on other sites More sharing options...
truman Posted February 2, 2015 Share Posted February 2, 2015 Its enough.... You that repayments were fairly high and they weren't good terms..can you quantify it..? If you earn 24k it's about £50 a month isn't it? doesn't it get written off after 25 years as well? Wish I could borrow 35k on those terms.. Link to comment Share on other sites More sharing options...
ubermaus Posted February 2, 2015 Share Posted February 2, 2015 And it doesnt get wiped out until you are 65. It's 25 years now I believe http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678571&_dad=portal&_schema=PORTAL ---------- Post added 02-02-2015 at 12:44 ---------- You that repayments were fairly high and they weren't good terms..can you quantify it..? If you earn 24k it's about £50 a month isn't it? doesn't it get written off after 25 years as well? Wish I could borrow 35k on those terms.. . Its more than 50 quid though. ---------- Post added 02-02-2015 at 12:46 ---------- a lot more Link to comment Share on other sites More sharing options...
truman Posted February 2, 2015 Share Posted February 2, 2015 (edited) And it doesnt get wiped out until you are 65. It's 25 years now I believe http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678571&_dad=portal&_schema=PORTAL ---------- Post added 02-02-2015 at 12:44 ---------- . Its more than 50 quid though. ---------- Post added 02-02-2015 at 12:46 ---------- a lot more Depends how much you earn doesn't it.. http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678490&_dad=portal&_schema=PORTAL Edited February 2, 2015 by truman Link to comment Share on other sites More sharing options...
ubermaus Posted February 2, 2015 Share Posted February 2, 2015 they also take money from investments. Link to comment Share on other sites More sharing options...
truman Posted February 2, 2015 Share Posted February 2, 2015 they also take money from investments. As I said it depends what your income is... Link to comment Share on other sites More sharing options...
ubermaus Posted February 2, 2015 Share Posted February 2, 2015 Depends how much you earn doesn't it.. http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678490&_dad=portal&_schema=PORTAL It goes on income and investments. Interest is charged every year and keeps compounding. Basically the govt. want you to pay as much back as possible in as short a time as possible. ---------- Post added 02-02-2015 at 12:54 ---------- Add in the fact you are prob going to pay a lot more tax and N.I than non Uni goers and it's a rubbish deal. Link to comment Share on other sites More sharing options...
truman Posted February 2, 2015 Share Posted February 2, 2015 It goes on income and investments. Interest is charged every year and keeps compounding. Basically the govt. want you to pay as much back as possible in as short a time as possible. "Unearned income If you have unearned income of more than £2,000 a year, for example interest on stocks, shares or savings, you may have to make additional student loan repayments." from here http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678490&_dad=portal&_schema=PORTAL So it's income of over 2k per year.. not the investment itself..that's how I read it anyway.. Link to comment Share on other sites More sharing options...
ubermaus Posted February 2, 2015 Share Posted February 2, 2015 As I said it depends what your income is... So your income is higher, your costs are higher. You also pay more tax and N.I. ---------- Post added 02-02-2015 at 13:01 ---------- "Unearned income If you have unearned income of more than £2,000 a year, for example interest on stocks, shares or savings, you may have to make additional student loan repayments." from here http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,6678490&_dad=portal&_schema=PORTAL So it's income of over 2k per year.. not the investment itself..that's how I read it anyway.. Of course. I think if you had to make payments from your own money, that you've already been taxed on that wouldn't be very fair. ---------- Post added 02-02-2015 at 13:02 ---------- I think it's a middle earners thing. Almost as shafted as poor people in this country. ---------- Post added 02-02-2015 at 13:03 ---------- I think we take home about 15p of every £1 we earn. Link to comment Share on other sites More sharing options...
truman Posted February 2, 2015 Share Posted February 2, 2015 I think we take home about 15p of every £1 we earn. You'll have to show me your working out for that ..I have quite a good salary and take home far more than that.. (even if you were to include a student loan repayment) Link to comment Share on other sites More sharing options...
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