Levitate Student: Borrow over £50K!!!!

Hang on a minute.....students borrow over £50,000?!

Well that's possible for students from the lower income backgrounds on a three year full-time course. It could be much more for a longer course or if a student needs to repeat a year.

But remember.....how much any student repays is not linked to what they borrowed but to what they earn after the course.

The higher your earnings the more you repay each year.

This is where the Chancellors Autumn Statement caused a stir because George Osborne tweaked the repayment terms for students who started their course in 2012 but not until after they had taken out the loan - see Ch-ch-changes

Now that is a worry - so if you don't want the repayment terms of your student loan to change once you have signed up for it then let your MP know.

Try www.theyworkforyou.com