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Uni costs doubling, holiday must-dos and money fails

The Martin Lewis Podcast

CHAPTER

Is It Worth Paying Off Your Student Loan?

Under the current system of every pound and funding of higher education for an individual student through the loan system, the student will pay 56p back. Under the new system, theStudent will pay 81p in the pound, the government will pay 19p in thepound. The interest that is added to your loan account is inflation, RPI inflation, the high rate, plus 3% while you're a student or between inflation and inflation plus 3% depending on what you earn when you leave. This has changed somewhat and it will be more worthwhile paying upfront because you're more likely to pay off. Now my caution to you, I'm so sorry, it's Pierre, isn't it?

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