My student loan debt increasing - how does anyone pay it off?
Resume IA
L'auteur se plaint que son prêt étudiant augmente malgré ses remboursements mensuels de 350£, et se demande comment les gens peuvent payer leurs prêts étudiants
Conseil cle
Comprendre les conditions de remboursement et les intérêts applicables pour gérer efficacement son prêt étudiant
I’m on a part 2 student loan & graduated uni in 2020. I took the minimum maintenance loan (under £4k per year) and uni was around £9.5k a year for 3 years (not sure of exact figure) - overall probably borrowed circa 40k. Since graduating I’ve been fortunate enough to be relatively well paid, earning over £70k a year for over 3 years now. I lose around £350 of my payslip each month to student loan, and has been the case for 3 years, but I’ve just checked my outstanding balance and it’s £45k? How’s that possibly happened that I’m in more debt than I was when I graduated even though I’m losing £350 of my payslip each month to repay this. I know it eventually goes away after not being paid off, but how can anyone possibly pay off their student loan? Edit: thanks for everyone’s helpful replies, appreciate it. If anyone is visiting this post at some point in the future, in short - unless you are wealthy enough to pay it off yourself, you’re stuck with this for 30 years🙃 (and I’ve heard 40 years if you’re on a plan 5 student loan!)