Student Loans Repayments
If you have had a Student Loan then you will know that at some point you will have to pay the amount you borrowed from The Student Loans Company, how much at what points are anybody’s guess as they don’t exactly make it easy to understand.
You aren’t supposed to pay anything back until you are earning £15,000 or more per year, although the problem with this of course is that you end up accruing quite a in interest which isn’t really want you want to do.
The system that they use is very nice not making you pay anything back until you are earning a decent amount although the problem is that the loan amount increases with interest, so it isn’t like it stays the same.
My advice would be to set up a Direct Debit of a small amount, for example £30 per month just so they loan is getting steadily less rather than more, It’s not as if they will ever come knocking for the money although you really don’t want it getting larger do you?
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