When will your student loan be written off, cancelled, or paid off?
It’s a question I’m asked all the time. Many know that current students no longer need to repay their loans 30 years after the April following graduation, yet for those who started university before 2012, there are a variety of options. This information has been a long-term part of my Should I repay my student loan? guide (where...
Martin Lewis: Five things all new English university starters should know
The 2023 academic year is about to start, and it'll see the biggest shake-up to student finance in England for a decade. The changes are both subtle and massive. On the surface they look like a tweak, in practice they will increase the eventual cost of going to university by over 50% for many typical graduates. I recognise that isn't what you want to read, and it's tough for me to write it too…
Five things EVERYONE should know about student finance
Ignore everything you've read in the papers. Ignore the political spittle that flies across Parliament. And in some cases, ignore what parents tell you too. There are more myths and misunderstandings about student finance than any other subject (my polite way of saying there's a lot of bull spoken). So in this blog is my updated 2021/22 version of the must knows, with links to far more info.
Martin Lewis VIDEO: Should you pay off your Plan 1 student loan?
If you started university between 1998 and 2011 in England or Wales, or since 1998 in Scotland and Northern Ireland, you'll have a Plan 1 student loan. While much is written about whether those with savings should overpay the current English Plan 2 student loans, there's little out there about Plan 1. I wanted to change that, so here's a video explaining how to decide...
How much the Govt expects you to give your children for university
Update Note 25 May 2017: The ready reckoners below have been updated with the new 2017/2018 living loan amounts. Also since first writing this blog, and seeing the strength of feeling it attracted, I have written an open letter to the Uni Minister asking him to start telling people about this. Yet sadly received his no we won’t...
Martin Lewis: Should I overpay my student loan?
Beware student loan statements, they're dangerous and misleading. I wish I could tell you to rip 'em up without looking at them, but occasionally there's practical info you need. Over five million uni leavers still have outstanding loans. Many panic seeing £100s interest added each month – a financial canker that's led some into making catastrophic decisions.
Martin Lewis: Why cutting tuition fees bizarrely risks hurting not helping most students
The news again has been full of talk about cutting English tuition fees from £9,250 to, say, £6,000. While psychologically attractive – as it reduces the perceived ‘debt’ – the practical impact is to take money off universities, risking the quality of education, and handing it to very high-earning graduates. I bashed out this explanation on my...
Warning: Parents with 2+ children who’ll go to uni, SAVE NOW, the system’s biased against you
The entire premise of our current student finance system is supposed to be “you don’t need cash to pay upfront to go to university!” Yet these days that’s simply not true. Many parents, especially those with more than one child, will need a war chest of possibly £10,000s. This isn’t about tuition fees. University fees are automatically...
Is your student loan being sold? The answers we must get from the Government…
If you started university between 1998 and 2012, the Government plans to sell your student loan to the City. If you started in 2012 or beyond, chances are the same will happen to you. If you went before 1998 then your loan has already been sold, and you probably know there were substantial problems. The House of Lords’...
Uni Minister Jo Johnson says NO to my letter asking ‘please be honest & transparent about the parental contribution’
The amount of the living loan that students aged under 25 get when they go to university is dictated by a means test of their PARENTS’ income. A reduction in the living loan starts for students from families with incomes of just £25,000/yr and the amount received can be halved for those whose parents earn £60,000. In...
1 October 2024
-
Martin: 'Get off the Energy Cap'
'You're overpaying'
-
Two FREE £175 bank switches
Which wins for you?
-
Save £100s on home insurance
Here's how
-
Amazon 'Prime Big Deal Days'
Sort deals from duds
-
Toy sales: Up to 50% off
At Tesco, Asda & more
-
Free solicitor-drafted wills
If you're 55+
-
Winter Fuel Payments legal bid
To reinstate for all
-
Read the full email
For all the latest deals, guides and loopholes simply sign up today – it's spam-free!
Recent Blogs
-
Martin Lewis on pension credit: What over-66s need to know
24 September 2024![]()
Nearly a million pensioners are missing out on pension credit, a vital benefit worth £1,000s a year for many, which tops up your income. -
Martin Lewis: Is it time to ban unnecessary Christmas presents?
17 September 2024![]()
Update September 2017: It’s eight years since I first braved this subject, expecting a snowstorm of protest. Instead, year after year more join in, like Julia who recently tweeted me, “@MartinSLewis, finally took your advice and told my family I can’t afford Christmas presents. What a weight off my mind. Thank you.” One year even the Archbishop of...
