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Student Loan repayment proposed changes

Student Loan repayment proposed changes
Thursday, 20 January 2011 10:57

The House of Commons has voted for changes to graduate contributions for 2012/13.  Under government proposals graduates will not make a contribution towards tuition costs until they are earning at least £21,000, up from the current £15,000.

The repayment will be 9% of income above £21,000, and all outstanding repayments will be written off after 30 years. This means all graduates will pay less per month than they do under the current system. The £21,000 earnings threshold will also be updated annually in line with earnings from April 2016, when the majority of students who commence a three year degree course in September 2012 will become liable to repay.

 

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