This 9% is whatever the loan amount youвЂ™ve amassed while the month-to-month payment amount varies based on your income. As an example, ВЈ25,000 you will pay ВЈ30 a month and if you earn ВЈ30,000 a month you will pay ВЈ67 regardless of whether your loan equates to ВЈ20,000 or ВЈ40,000 if you earn.
While youвЂ™re studying, interest on the loan is charged in the current rate of RPI (retail cost index) plus 3% and also the price varies once youвЂ™ve finished your studies based on your wage. The scholar financial institution has greatly detailed facts and figures for you personally on repaying your education loan.
ItвЂ™s well well worth being mindful that after you have graduated, it will be wiped out if you havenвЂ™t repaid your student loan 30 years. Read more