Should I pay off my Plan 1 student loan?
In this video Martin answers a question that is commonly asked - "should I pay off my student loan?". Here, Martin purely answers about Plan 1 loans – that is anyone who studied anywhere in the UK between 1998 and 2012, and Northern Irish students from 2012 onwards.
Just a note, in this video Martin also mentions that Scottish students are also on plan 1 loans. But since April 2021 Scotland changed its system and is now on a differnt Plan 4 loan for both new and existing students. Whilst some of the details may apply to Scottish students, some won't. So for full details on Plan 1 loans and Plan 4 loans for Scottish students see the detailed Student Loan Repayment - Is it better to save or pay it off guide.
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