Student Loans

[user1471543683]

Just wondering what the latest advice on taking a student loan out were. I recall Martin Lewis saying you should take them but I know they have changed recently. Any help appreciated

It depends on your specific circumstances and whether or not you are likely it pay it back or have access to the money to pay upfront etc.

e.g. if you have the money to pay but expect to have a salary below the pay back threshold then you might be better to take the loan as you'll never pay it back and it will eventually be written off.

Or if you don't have the money and expect a salary a bit higher than the threshold but low enough that you still won't have paid it back before it is written off then it's 'free money'.

If you have the money to pay upfront and expect a higher salary so that you will also expect to pay the full loan back during the remainer of your working life, you may prefer to just pay it now and now have the deductions taken out of your future salary. Or you may not and instead see it as a multi year installment plan.

I don't think there is a clear cut fits-all answer, sorry!

I agree with the post above.
Most people cannot afford NOT to take the loans so there is no need to consider anything - just take the loans.
For the few of us with choices I chose not to because my parents allowed me to graduate debt free and it was just an extension of in effect school fees I had been paying since they were 4 for a few more years and 4 of the 5 are lawyers in London or about to be so higher earners anyway.