UK Student Loans – SB or BS ?
Some more bad press surfaced yesterday for the Student Loan scheme - this time highlighting misleading info on the true cost of loans, supplied to prospective students by the universities themselves. As you'll see if you read further, the scheme is designed to recoup as much cash for the treasury as possible, and ensures that all but the very poorest will pay back all of their loans plus a large dollop of interest. The scheme's complexity aids in this by lulling students into a false sense of security about their eligibility for avoiding repayment by virtue of lower salaries. A nasty surprise is to come for many as thresholds are kept frozen and salaries rise inexorably. My advice - avoid these loans like the plague....or of you really can't, get them paid off as quickly as possible. Please see also recent update of 7.4.26 at the end of this text for interpretation of UK.Gov's announcement on the 6% interest rate cap for Plan 2 loans. ------------------ UK Stud...