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Education loan interest is currently 5.4% – must I panic or pay it back?

You leave college, looking towards your personal future, then spot your pupil loan declaration. There is a feeling that is sinking the thing is Ј1,000s of additional interest. Yet education loan statements could be dangerously deceptive. They’ve led some into making catastrophic decisions that are financial. For some graduates, bizarrely, interest is not relevant. Ignore it, and it will disappear completely.

This unique guide by creator Martin Lewis, for English and Welsh pupils whom began uni in or after 2012 (who have got what are known as Arrange 2 loans), turns many people's knowledge of student education loans on its head – uncovering how a interest does work, whether you really need to worry or perhaps not, and whom should always be attempting to clear it.