Erudio student loan repayments

[Patchoulicloori]

How do you work out what your monthly repayments on pre1998 student loans would be? I have a total of around £10,000 in loans and wondered how much I'd pay each month if I was no longer able to defer?

If you log on to the website it’ll tell you. Mine is around £120pm. I did a post a while ago because the threshold has increased hugely recently and I’ve been repaying when I could have been in deferrement. It’s gone up to about £36k pa

If you divide what you owe by 60, you'll get the payment less interest, so it'll give you a vague clue. £10k divided by 60 is about £167.00.

Interest rates on these loans are about to shoot up, at least for the year starting Sept 22, as it's based on RPI in the March prior, which is going to be rather high this year.

Thankfully, I'll only have 7 payments left when the rate goes up, so won't be hugely affected due to my relatively low balance.