University Offers coming in....time to apply for finance

Discussion and advice on University Education

Moderators: Section Moderators, Forum Moderators

11 Plus Mocks - Practise the real exam experience - Book Now
Tinkers
Posts: 7240
Joined: Mon May 16, 2011 2:05 pm
Location: Reading

Re: University Offers coming in....time to apply for finance

Post by Tinkers »

In a lot of cases it’s not worth trying to ‘pay it off’ quicker. It’s not a normal loan.

Even if the interest rate goes up massively, it’s not going to make any difference to the amount your DC pays every month.

The amount they pay purely depends on their own salary, the threshold they start paying and the set % of their salary over the threshold. These should be fixed, though the threshold will likely increase . (There’s a risk a government may try and change the T&Cs in future, but no one has a crystal ball and everyone will be doing a rethink)

The only thing that will change if the interest rates go up is the hypothetical amount they ‘owe’.
Post Reply
11 Plus Mocks - Practise the real exam experience - Book Now