Good ideas and conversation. No ads, no tracking. Login or Take a Tour!
I used the calculator at MoneySavingExpert, I have one loan on the old system at ~£22,000, assuming I earn £25,000 (which I do not expect to earn at all, but hey it would be nice) it estimates it will take 16 years and 6 months. My new loan to cover this year of teacher training is ~£17,000, but because of the different rules for the new system it estimates repayment in 16 years and 4 months. I have no idea if it tries to pay them both off at the same time or not, in the UK it's automatically deducted from income so I will have to start earning and find out! I hope it doesn't though, as that would be two 9%'s coming off of my paycheck.