Student Loans

[bubbly2000]

My friend has just got a job paying £18k per yr. Does anyone know how much will be deducted from his salary each month for his student loan which was about 12k in total...thanks

[bednobs]

£16.53 (approx)

[factor-fiction]

Hi- the size of the loan isn't going to be a factor for quite some years in that repayments are based on earnings and at this level of income are unlikely to be sufficient to fully repay the loan for many years.
I haven't checked bednobs's calculation to see if it reflects the new increased amounts announced in the budget but the figure is in the right sort of area-I reckon it will around £200 a year.

[EDDIE51]

The starting salery for repayment is £16365 for this year so your friend will pay only a few £s a month.

[2sp_]

sonisa, it depends on the t&cs of your particular loan.

I took one of the original student loans, I had to earn over £26k a year before I had to pay anything back, and when I did the payment was £50 a month regardless of how much I earned - even if it was £150k.

[BenjaminArvel]

I think its about 15point something. One organization certhelp can tell you exact amount with correct calculations.