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Student Loans Mythbusting 20+ fees, loans and grants facts for 2014 starters

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Student guide to fees, loans and grantsIgnore newspaper headlines about students leaving university with £50,000 of debt. That’s a mostly meaningless figure. It’ll actually cost those who earn well after uni far more, and those who don’t earn as much far less or nowt.

It’s now three years since student finance in England was radically overhauled, yet myths, panic and confusion are still widespread. So forget the politics, its time to focus on the practical impact on students pockets.

This special guide by Martin Lewis shows the 20+ key facts every potential student, parent and grandparent should know.

Before we start, I'd just like to say:

"For 20 years we've educated our youth into debt when they go to university, but never about debt - that must change"

For this reason, even though I'm no fan of the changes, in 2011 I agreed to head up a student finance taskforce working with the NUS, universities and colleges to try to ensure we bust the myths and misunderstandings that have resulted from so much political spittle flying.

What counts is that no student is wrongly put off going to university thinking they can't afford it. Some may rightly be put off, but unless you understand the true cost, how can you decide?

  1. Trebling of tuition fees doesn't necessarily mean trebling of costs

    All universities are now allowed to charge up to £6,000 a year and many up to £9,000 (nearly three times 2011's fees), providing they make extra provisions for bursaries for poorer students. The max for part-timers is £6,750 a year.

    You might think universities would be cock-a-hoop over this, as they'd be getting more cash, but their direct funding has actually been radically cut by the Government, sometimes by more than the extra fees received - so it's far from clear-cut.

    Trebling feesOn the back of this, you'll no doubt have read headlines like "students to be £50,000 in debt when they leave". Yet the big confusion with tuition fees is that everyone talks about the price tag and the amount you borrow, whereas what really counts is how much you will need to repay.

    And that, as I'll explain in more depth later, depends far more on how much you earn once you graduate or leave university.

    Those who earn a lot will repay a lot. Those who don't gain too much financially from going to university will repay little or nothing. Some have even called this 'no win, no fee', although of course, winning at higher education is about far more than just how much you earn afterwards.

  2. The changes ONLY hit first time undergraduates starting in or after September 2012

    The new student finance system only affects those starting their first undergraduate course at university or college in 2012, 2013 or beyond. If you already have a higher education qualification you're unlikely to be able to borrow the money. Included within undergraduate courses are Higher National Diploma/Certificate courses and certain teacher training courses such as PGCE. Those on courses which started before 2012 stick with their existing fees and repayments.

    Find out more if you're... changing or deferring a course, on a foundation course, wanting to study healthcare/medicine

  3. You don't need the cash to pay for university

    It ISN'T a case of 'pay up or you can't go'. Once your application has been processed, tuition fees are automatically paid by special Student Loan Company loans which full-time students only need to start repaying in the April AFTER graduation (or leaving) at the earliest, no matter how long your course.

    Of course you don't have to take the loan for tuition fees, you could opt to pay it directly. Yet you may be surprised that...

    For many, paying tuition fees upfront rather than taking the loan risks leaving them £10,000s WORSE off.

    If you are considering paying tuition fees upfront, read the full Beware Paying Tuition Fees Upfront guide, which takes you through the pros and cons.

  4. Earn under £21,000 and you'll never repay

    You only repay 9% of everything you earn annually above £21,000 of pre-tax salary once you've left university. Therefore if you've started repaying the loan, but then lose your job or take a pay cut, your repayments drop accordingly.

    If you earn £22,000 in a year, what do you repay?

    The answer is £90, as twenty two thousand is one grand above the threshold and 9% of £1,000 is £90.

    And if you earn £31,000, what do you repay?

    £900. Thirty one thousand is £10,000 above the threshold and 9% of that is £900.

    "How on earth will my child be able to afford to repay these debts if they get a poorly paying job?"

    This panic question has been thrown at me by many parents - and it's really important to examine it in the light of the required repayments.

    Someone on a low wage will be required to repay little or nothing at all. In fact, only higher earners will be shelling out large amounts.

    It's important to note that not repaying much because you're just over the threshold isn't being bad. The system is, in reality, a graduate contribution, designed so that, in the main, those who gain the most financially out of university contribute the most.

    The £21,000 threshold is set to change

    The £21,000 threshold is scheduled to rise in line with average earnings. This will start in April 2017 (a year after the first graduates under the new system - 2012 starters - are eligible to repay).

    For the rest of this guide, for ease, I will just refer to it as 'the £21,000 threshold'.

    Further info on repaying:

    Technically you repay 9% above £1,750 a month - important if you get bonuses

    What counts as additional income for student loan repayment purposes?

    How student loans are treated for tax purposes

    Do I still have to repay my student loan if I move overseas?

    How do student loan repayments affect my pension repayments?

  5. Watch or listen to the audio and video guides

    Click the button to see each of the video and audio guides...

  6. No debt collectors with student loans

    Student loans for both post 1998 and post 2012 starters are repaid through the payroll just like income tax. What this means is that once you're working, your employer will deduct the repayments from your salary before you get it. So the amount you receive in your pay packet each month already has it removed.

    This means no debt collectors will come chasing as you don't have a choice in the matter and will have paid it automatically.

    There are two exceptions to this. One is students who took loans before 1998, and who now may have found that if they're behind in their payments that they're being chased by a debt management company. For more information, read Government sells £900m of student loans.

    The other exemption to this is for the self-employed (people who work for themselves or are freelance). For more on that see how the self-employed repay.

  7. After 30 years, any and all remaining debt is wiped

    You stop owing when you've cleared the debt or when 30 years (from the April after graduation) have passed, whichever comes first. If you never get a job earning over the threshold, you'll never repay. More on what happens on death or incapacity.

  8. 'Above-inflation' interest will be charged Don't understand interest rates? Read the Interest Rates Beginners' Guide

    Above-Inflation interest will be chargedFor those who started university before 2012, there was no 'real' cost to borrowing money via student loans, as the interest rate was set at the rate of inflation (RPI). So borrow a shopping trolley worth of goods and you'll repay enough to buy the same, even though the actual cash amount may increase (more on this in the Should I Repay My Student Loan? guide).

    Yet for those starting in or after September 2012 that's all changed. The interest is as follows:

    • While studying: Accrues RPI inflation plus 3% on the outstanding balance. This continues until the first April after graduation when it changes to…
    • After studying, earning under £21,000: Accrues RPI inflation.
    • After studying, earning £21,000 - £41,000: The interest rate will gradually rise from RPI to RPI plus 3% the more you earn (the interest rises 0.00015% for every extra pound you earn or, put another way, if you earn £1,000 more, you accrue 0.15% extra interest). These thresholds are likely to rise with average earnings from 2017.
    • After studying, earning over £41,000: Accrues RPI inflation plus 3%.

    It's worth noting all the above scenarios assume inflation is positive (prices rising). It's not yet known what would happen in a period of deflation (prices falling).

    The rate used is the previous March's RPI inflation rate. March 2013's inflation rate was 3.3% meaning interest charged on new-style student loans in 2013/14 is 6.3%.

    In this dropdown - find more about interest rates if you don't complete the course.

    Being charged interest isn't the same as needing to repay it

    I'm no fan of the fact that students aren't just being charged for their education, they also pay for financing it with above inflation interest.

    Yet that's a principled stance. In practical terms for many graduates, especially those who aren't high earners when they leave, they'll never have to repay this interest, so it's meaningless. See my Student loans are interest free for many blog.

  9. Repayments are £368/year LESS than for current graduates

    Many people worry that with the much higher levels of student debt, cash will be too tightly squeezed to live on once post-2012 starters graduate.

    Yet actually, today's university starters will have MORE cash in their pockets each month than those students who've just graduated.

    Graduates who started their course before Sept 2012, repay 9% of everything earned above £16,910. Those starting in 2012 and beyond see that increased to £21,000.

    That means those earning above the £21,000 threshold have £368-a-year more in their pockets than now. A chart should help.

    Earnings Current system New 2012 system
    Annual repayment Monthly pay packet reduction it's equivalent to Annual repayment Monthly pay packet reduction it's equivalent to
    £16,000 Nothing Nothing Nothing Nothing
    £17,000 £8.10 £0.68 Nothing Nothing
    £21,000 £368 £31 Nothing Nothing
    £22,000 £458 £38 £90 £7.50
    £30,000 £1,178 £98 £810 £67.50
    £40,000 £2,078 £173 £1,710 £142.50
    £50,000 £2,978 £248 £2,610 £217.50

    For simplicity, I’ve compared new starters with current graduates. Actually a fairer comparison will be with 2011 starters – the last on the old system. While it's likely those repaying under the new system will still have more disposable income in the years following graduation, the gap will be substantially reduced due to the inflation. There will still almost certainly be a gap, read more on why inflation decreases the difference.

  10. You WILL owe money for longer than current graduates and MAY pay a LOT more

    Owe more and take longer to pay it offThe flipside of people repaying less due to the higher £21,000 threshold than current graduates is that it will take much longer to pay off the loan. And this is compounded by the fact the original debt is bigger and the interest rate higher.

    This is because under the new system the cost is effectively being spread over a much longer period. Initially, graduates will be able to keep more of their income to spend than now. Though later on when they would've paid off the loan under the current system, they'll have less as they'll still be repaying.

  11. Part-timers can get loans for tuition fees too

    Part-time students, often forgotten, make up 40% of all undergraduates. Fees for part-timers also jumped very substantially in 2012, with all universities being able to charge up to £4,500 and some £6,750, provided they offer bursaries.

    The one silver lining to this is for the first time part-time students (provided it's their first degree and they're studying at least 25% of a full-time course) will no longer need to find the cash upfront. They're now eligible for tuition fee Student Loan Company loans on exactly the same basis as full-time students. They won't be eligible for maintenance loans or grants though.

    Full info on this in my Part-Time Students' Finance Guide, produced by the Independent Taskforce on Student Finance Information.

  12. Monthly repayments are the same, whether fees are £6,000 or £9,000

    Money from hand to hand Whether you choose a course that costs £6,000 or £9,000, you'll repay the same amount each month, as that purely depends on what you earn (9% above £21,000).

    In other words, whatever your tuition fees (and maintenance loan) if you earn £22,000, and haven't cleared the debt, you repay £90 a year.

    Of course, the more you borrow, the longer you'll be repaying. Yet it's worth noting that, as many people won't finish repaying before the 30 years is up (see key fact 18) unless you're a higher earner, picking a course with higher fees won't actually cost you more. See the min, max and average fees planned to be charged by each university from September 2014 (pages 12 to 15).

  13. Student loans also cover living costs

    Full-time students aged under 60 at the start of their course can also take a loan to pay for their living costs, eg, food, books, accommodation and travel. They are known as maintenance loans, and are usually paid in three termly instalments direct to students' bank accounts.

    The amount is dictated by two elements:

    • The guaranteed bit. Up to 65% of the maximum living cost loan will be available to everyone, regardless of their parental income.
    • The income assessed bit. The amount you can borrow is means-tested, in other words it depends on you or your parents' residual income (pre-tax income minus pensions - see a full definition of residual income).

      If income is higher, then you or your parents are expected to fill this financing gap.
    Maximum maintenance (living) loan
    Academic year Living with parents Living away from home Living away from home (London) Living away from home (overseas)
    2012/13 and 2013/2014 £4,375 £5,500 £7,675 £6,535
    2014/15 £4,418 £5,555 £7,751 £6,600

    One big concern is student loans aren’t big enough

    While most headlines rant about the size of student loans, actually for many the problem is living loans aren’t actually large enough. With student rents rising and costs increasing, for some, living off these amounts is tight. There’s little signs of the government looking to increase these amounts.

    So it's crucial to ensure that there is a real focus on budgeting, and the money isn’t spent in the first few weeks of term. Extra funds from parents and part time jobs will help. Do see Student MoneySaving tips for more on how to make the cash stretch further.

    Deadlines to apply for maintenance loans

    To get these loans in time for the start of the autumn term/semester, students resident in England need to apply by 31 May 2014. In Scotland, prospective students have until 30 June. For Welsh students, it's 16 May. There's no real deadline for Northern Irish students, but you must have applied by nine months from the start of your course.

    Missing the deadline doesn't mean you can no longer apply for a loan, it just means the cash might not arrive until a few weeks into term. See Gov.UK (England), Student Awards Agency for Scotland, Student Finance Wales, or Student Finance ni.

  14. Under £42,620 income households' students get maintenance grants

    Broke student with empty pockets In 2014/15 full-time students with residual income under £25,000 get a grant of £3,387. Because it's a grant, not a loan, it never needs repaying (unless you leave your course early, when you may be asked to pay it back).

    If you're entitled to a full grant the maximum loan you'll be entitled to is reduced though by less than the amount of the grant.

    So at £25,000 income or less, in 2014/15, a student living away from home (outside London) would get a grant of £3,387 and a maximum loan of £2,725 (not the full £5,555).

    Those from households with income between £25,001 and £42,620 get smaller grants, though the maximum loan amount increases to make up for it.

    Support package 2014/15
    Household income Non-repayable maintenance grants Maintenance loans Total
    £25,000 or less £3,387 £3,862 £7,249
    £30,000 £2,441 £4,335 £6,776
    £35,000 £1,494 £4,808 £6,302
    £40,000 £547 £5,282 £5,829
    £45,000 £0 £5,341 £5,341
    £50,000 £0 £4,836 £4,836
    £55,000 £0 £4,331 £4,331
    £60,000 £0 £3,826 £3,826
    £62,500 or more £0 £3,610 £3,610
    For students living away from home and studying outside London.
  15. Student loans DO NOT go on credit files

    When you borrow from a bank for a credit card, loan or mortgage, to evaluate whether they'll make money from you lenders look at three pieces of information – your application form, any previous dealings they've had with you and crucially, the information on your credit reference files (full info: How Credit Ratings Work).

    Most normal financial transactions and credit relationships you have are listed on these files - yet student loans are not included (with the exception of students who started university before 1998 under the original loans system and defaulted).

    So the only way loan, credit card or mortgage providers know if you've got a student loan is if they choose to ask on application forms. They can do this and it happens, but in general it's only for bigger value transactions such as mortgages.

  16. Bigger tuition fees are unlikely to impact the ability to get a mortgage

    House keysI know many parents worry that the much higher level of tuition fees, and subsequent 'debt', will hit their child's ability to get a mortgage after studying.

    Of course, having a student loan is worse than not having one when it comes to getting a mortgage. Though going to university often results in earning a higher salary, which will usually easily cancel this out.

    Here's what the Council for Mortgage Lenders (the mortgage company trade association) has said, sadly in less than plain English: "A student loan is very unlikely to impact materially on an individual's ability to get a mortgage, but the amount of mortgage available may depend on net income."

    To explain this, it's more relevant to compare the impact of the system's change to those who are currently graduating.

    As I've already explained, those starting in 2012 and beyond are likely to have HIGHER disposable (net) income than current graduates. This makes saving for a deposit and repaying a mortgage in the years after graduation easier.

    However, they will be repaying long after current graduates, so at that point they will have less disposable income. Overall, both in my view, and that of mortgage brokers I've discussed it with, it's likely to even out - and it's certainly a negligible issue compared to building a substantial deposit (see the First Time Mortgage Guide).

  17. You can repay early

    You can repay student debt early In the early days, the Government was consulting on penalties to stop people repaying early - but the mass of feedback (including our no to penalties submission) was against - and thankfully it decided to scrap the idea.

    Yet this doesn’t mean you should pay off early, just because it's allowed. While in general we’d encourage people to repay their debts as quickly as possible, student loans are one of the rare cases where that will be a bad decision for some people.

    This is because, as explained in point 18 below, under the new system many won't fully repay before the debt's wiped after 30 years (use the Student Finance Calc to see). Overpaying each month could actually be peeing in the wind – as the overpayment's not reducing the amount you’d need to pay back at all.

    Even if you’ve enough cash to clear the loan in full it may not be worth it as your repayments primarily depend on what you earn, not what you borrowed. It could mean you need to repay less than what you owed. To see how this concept works read the Beware paying Tuition Fees Upfront guide.

  18. Students from, or going to, Welsh, Scottish and Northern Irish unis may have different rules

    Scottish, Welsh and Northern Irish students, including those who decide to study in England, receive their financial support from their "home" devolved administration so it's a matter for those governments to decide how they wish to support their students.

    • Scotland: Scottish students studying in Scotland will carry on not paying any tuition fees from 2012. English and Northern Irish students studying there will be charged up to £9,000 per year, as will Scottish students studying in England, Wales and Northern Ireland. If applicable, repayments apply to salaries above £16,910. Welsh students in Scotland will receive some support from the Welsh Government - see below for details.
      More info: Student Awards Agency for Scotland

    • Northern Ireland: Northern Ireland students studying in Northern Ireland will pay a fixed price of £3,685 in 2014. Those from England or Scotland will be charged up to £9,000 per year, while Welsh students will receive some support from the Welsh Government, as explained below.
      More info: Student Finance NI

    • Wales: Tuition fees at Welsh universities follow the English pattern and will be increased up to £9,000 from 2012. However, the Welsh Government will cover the increase for Welsh resident students. They won't have to pay any more than the current cost plus inflation, likely to be £3,685. English, Scottish and Northern Irish students will need to pay the full amount.
      More info: Student Finance Wales

    Here's a summary of the situation for 2014 starters:

    Maximum annual tuition charges
    Where student is studying
    Where student lives England Scotland Wales Northern Ireland
    England Up to £9k Up to £9k Up to £9k Up to £9k
    Scotland Up to £9k Free Up to £9k Up to £9k
    Wales
    Charged up to £9k, but Welsh Govt pays anything above £3,685
    Northern Ireland Up to £9k Up to £9k Up to £9k £3,685
    Source: Ucas
  19. Many people will never pay it all back

    By running the numbers on some typical situations using the Student Finance Calculator, it looks likely only those towards the higher end of the income scale will ever repay what they borrowed.

    In one way it's good, as it means the level of the tuition fees is irrelevant to most - they'll just keep paying the same proportion each month and if they don't earn enough, they won't come close to paying back what was borrowed (never mind the interest).

    But it's also means the loan won't be cleared until it's wiped after 30 years.

    The following table should help you see roughly who's likely to pay the loan off, and what the total cost will be. As inflation and students' future income are both unpredictable, we've had to make some assumptions. This table should be seen as an indication of scale rather than anything more exact.

    Before you look at the table

    Please be aware it's designed to give a VERY rough indication of who’s likely to pay the loan off. We’ve been forced to make many assumptions about inflation, earnings growth and graduates' earning growth, small changes which have a big impact. So please use this as a guide only.

    Expect to repay more quickly than the chart shows if…

    Expect to repay more slowly than the chart shows if…

    Click the button closest to your tuition costs to get an indication of what you'll pay back...

  20. The very highest earners aren't the very highest payers

    Throughout this guide, I've written "the more you earn the more you repay", yet a quirk of the system means technically, beyond a certain point, that's not true.

    In truth, for the huge majority of people this isn't relevant, so feel free to skip this technical point, but from a political perspective it is worth examining.

    This quirk happens because seriously high earners pay off so quickly they have less time to accrue interest. This doesn't mean they pay nothing, they still pay far more than very low earners, but it does mean that very very high earners repay less than high earners.

    Try a wee experiment to understand this. Go to the Student Finance Calculator and set it to the maximum tuition fees (£9,000 per year) and typical maintenance loan (£5,555 per year). Now use the salary slider to change the starting salary and (on standard assumptions of inflation and salary growth) you'll see at first the repayments rise. Then, after a starting salary of around £41,000, they start to fall.

  21. Think of it like a graduate tax, not a loan

    Graduate tax, not a loan The maximum possible loan combining tuition fees and maintenance in 2014 is £16,600 a year; £50,000 over a three-year course.

    This is a frightening amount, and indeed many are frightened of it. Yet it's important to not just jump at this figure, but look at it in regards to how much of that you'll actually have to repay.

    In fact, when you examine this debt, it's far more like an additional tax than a loan (see my old blog: Student loans aren't a debt for why the language needs to be changed) for the following reasons:

    • It's repaid through the income tax system
    • You only repay it if you earn over a certain amount
    • The amount repaid increases with earnings
    • It does not go on credit files
    • Debt collectors will not chase for it
    • Bigger borrowing doesn't increase repayments
    • Many people will continue to repay for the majority of their working life

    In many ways it has many of the features of a tax, but one that simply ends once you've repaid what you borrowed, plus interest. (This isn't the first time I've argued this, see my old blog: We Already Have A Graduate Tax.)

    So if you examined it as a tax on current thresholds, a typical graduate will face the following deductions from their payroll, while they still have an outstanding student loan.

    Equivalent 'marginal' (1) tax rates for graduates under 2012 system
    Assumes current tax thresholds remain
    Annual earnings up to £10,000 No tax – as this is the typical 'personal allowance', the amount earnable before income tax starts.
    Earnings over £10,000 up to £21,000 32% tax and national insurance
    Earnings above £21,000 41% due to addition of student loan repayments
    Earnings above £41,865 51% due to addition of higher rate tax, but drop in national insurance (2)
    Earnings above £150,000 56% due to higher rate tax (2)
    (1) 'Marginal' means you only pay the specified tax rate on that portion of salary. For more, see the Tax Rates guide. (2) Earn above £100,000 and your personal allowance will also be affected.

    In reality, it isn't a tax, it's a loan contract. In effect, it's somewhere between the two.

    What's the reason I stress the tax concept? It's because many parents wrestle with 'how will I pay for my child to go to university?' and then risk their own financial solvency and security to do so. And while it may sound callous, you need to decide whether paying for it really is your responsibility.

    The system is set up so that the cost is met by the beneficiary of the education - your child. When this is called a 'loan' many parents feel guilty and become desperate to avoid their child getting into this debt, even though they may not need to repay it.

    Yet if we'd called it a tax, would you still feel compelled to prevent it? If you're a parent it's worth thinking this through to judge your own reaction.

  22. Student loans should be counted as part of students' income

    Many school leavers go straight to university with their parents or grandparents yelling "STICK TO A BUDGET!" Yet that simply isn't enough info. Think about this for a moment:

    A working person shouldn't spend more than they EARN.
    What shouldn't a full-time student spend more than?

    Calculate student loansIt's this piece of the budgeting jigsaw many people miss, but it's crucial - without knowing your income, you can't budget.

    I'd define a student's income as: the student loan, any grant, any income from working and any money given by parents or relatives.

    Total that up, and this is what you should budget not to spend more than.

    It's important to note while this does include the student loan, it doesn't include 0% overdrafts, which at best should be seen as aids to cashflow but not income (see Best Student Accounts guide) or any other commercial debt.

    While we're talking budgeting, if you're 17 and reading this guide, that's brilliant news - nothing is more important than understanding the cost of your education. Can I also suggest you read the Teen Cash Class guide? It'll give you more ideas on how to be successful with your money.

  23. Offered a fee waiver or bursary? Go for the bursary

    Those coming from homes with lower incomes, or with less traditional university backgrounds, are likely to be offered incentives by universities. The exact structure and money is likely to be given in one of three ways, but should be worth up to £3,000:

    • Fee waiver. Here you are given a reduction each year on your tuition fees, meaning the loan you need is less.
    • Bursary. This is some form of cash or gift in kind. It could range from a £1,000 grant or help with living arrangements, depending on your situation.
    • Scholarship. Similar to a bursary, it is usually a form of cash or gift in kind. Getting one depends on academic ability (usually A-level grades) rather than income.

    See details about learner support funding.

    Why a bursary beats a fee waiver

    Why are they giving out this money?

    Other forms of funding

  24. Can the system be changed once I've started?

    So now you understand it, the obvious question is, "how fixed is all this?"

    The government announced in the latest Autumn Statement (December 2013) that it's selling off the remaining £40bn of student loan debt it has - a concern to many of the four million uni leavers since 1990 with outstanding loans.

    The Department for Business, Innovation and Skills (which deals with universities) sent us the terms of the student loan book sale which, includes:

    "Borrower protection is a primary aim of the Government. That is why terms and conditions, including the calculation of interest rates will not be altered to the detriment of borrowers as a result of any sale."

    And it also told us:

    "Following a sale, SLC and HMRC will continue to administer loans, with the collection processes remaining the same. This means that there will be no changes to the way individuals make repayments through the PAYE system or to the way individuals make repayments through self-assessment channels."

    Therefore, currently there are no planned changes to the terms of the loans. However, it's important to understand Parliament is omnicompetent. In other words, it's completely free to make and change rules made in the past. This means there is no 100% guarantee the system will remain unchanged for the 30 years until you’re clear. It's worth being aware this is a risk factor.

    Yet once the system is finalised and you’ve started university any negative changes in the future are unlikely, as policymakers are generally adverse to retrospective change.

    Coin flipLooking at the history of student loans, any major changes to the system have only affected new students. Those who have already started remain on the system in place when they started university (with minor positive changes, such as uprating due to inflation).

    While nothing is impossible, the best that can be done is to plan that the system in place now will continue throughout your repayments.

    For much more, see see my blog: Can the government change student loan terms? and Student loan sell-off - should you be worried?

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