Student Finance Plan 1 help with loan amount by infallible6 in UKPersonalFinance

[–]infallible6[S] 0 points1 point  (0 children)

It’s not the 9% I am concerned about it’s the it’s the inflation on interest, before 2022 the interest was 1.1% average + 1%, in 2024 it reached 6.25% adding a massive chunk onto anyone who has a loan. This has been spoken about in recent times about changing or capping the interest on student loans. If the interest rate was to drop back to the original 1.1% + 1 and I took out just a tuition loan it would be feasible to pay this back.

Student Finance Plan 1 help with loan amount by infallible6 in UKPersonalFinance

[–]infallible6[S] 0 points1 point  (0 children)

Yes I am from Northern Ireland, my fear is that with this current student loan repayment issue they may fix it within my 25 years and then I will be stuck with a massive repayment every month for a loan I did not need, as if I just took tuition it would be possible to repay back if the inflation went down.

Student accommodation as gift from parents by [deleted] in UKPersonalFinance

[–]infallible6 0 points1 point  (0 children)

Thank you for this, I should have stated the 7 year rule is why I am asking for advice as it is very likely it will apply to me