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The Martin Lewis Podcast
New Starter Loans - What's New?
There are seismic changes coming to English University funding this September for new starters only those already at university. New 2023 starters will repay 9% of everything earned over £25,000. The next big change is currently when you leave, you repay until the loan is cleared or 30 years, whichever comes first. Over the next 40 years, you're going to pay in real terms back what you borrowed. 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? Pierre? Yeah, that's right. Thanks.
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