I’m due to start a new job at the same time my postgrad loan payments will start. In total (plan 2 + postgrad loan) I have £30k outstanding. My new salary will be £65k and SLC call handler has said my new payments will be £520 a month but she didn’t sound confident (or maybe im in denial lol).
It just seems so high! I pay about £60 at the moment as I reduced my hours after mat leave and now going back full time. I thought this salary increase would be the boost to alleviate any day to day financial pressure but when I take into account mortgage, childcare increase, pension increase, commuting season ticket costs and over £500 in student loan well it just doesn’t even seem worth it!
I’ve read that the amount of outstanding debt doesn’t really effect the repayments, it’s just the salary element that does. So is there anyone on a similar salary (roughly) that can let me know if their repayments are this high?? The online repayment calculators say around £300