How student loan repayments work (and why clearing the debt could be a bad idea)
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Students with Plan 5 loans will be paying off more debt, and for longer.
By Samantha Partington
Student loans are necessary for many as a way to pay for tuition fees and living expenses while at university.
On average, students are now forecast to accrue up to £50,000 in debt during their time at university, according to the Institute of Fiscal Studies. The huge figure combines annual tuition fees of up to £9,250 a year, maintenance loans and loan interest charged while studying – but the deb...
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