With the class of 2024 graduating secondary school this month, Martin Lewis has 5 things all university hopefuls should know about student finance. Plus, he’s got money-saving tips for anyone struggling with student loan debt and parents planning for the distant future.
Broadcast on 16/07/2024
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SLC UK will soon be sued for extortion.
A 9% extra tax hit over 40 years of earnings is a Massive hit in the pocket, especially when you start earning more.
I love Alison and Dermot 😂 their faces are priceless 😂😂😂
Study nursing, move to Australia where you arent paid an exploitative wage then stop paying it
This system is perfect for low achievers which is what this country encourages anyway.
If you earn £30,000 for 30 years, by the time it gets wiped off, you would’ve only paid off £13,500.
But if after 10 years of graduation, you start earning £125k and go on to earn that for the next 20 years, then by the time your loan gets wiped off, you would’ve paid a whopping £180,000.
So whether you worry or not depends on what you achieve 😂
Students not to worry Sponsors the parents on the other hand worried sick
This video was posted nine months ago, so a lot may have changed since then!
Don’t forget it’s over 40years and none bankrupt-able
Okay but the true problem is if the 9% tax raises
what if someone who moves to another country, after graduation
SLC is starting scanning people very seriously! this scam is coming for the government
Neither of these 2 have a clue .. 😂
I can't help but laugh watching both presenters—they seem completely out of their depth!
I only see good things from this. you're telling me that i can get a qualification to get a job that gives me 3k a month, and all i have to pay is £150 a month for 20 years. That's great or am i missing something
What if you live abroad?
Does having the student loan or finance affect eligibility when trying to buy first home in terms of the affordability checks?
Ok idk if im right but this has calmed me down a bit for when i do uni in 2 years time
I've been watching Martin Lewis over many years saying how student loans are no big deal. It's just a debt that hangs over you for 40 years, stops you buying a house or wedding or paying for kids.. but it gets wiped eventually, so no big deal. As long as they don't change the terms/APR once you're knee deep in debt (which they already have done). It's been a beautiful thing to see his latest TV bits where he complains about the affordability of uni and how parental income is included in the calculation as his daughter begins secondary school. How did he not see this magic trick coming? Get the public to accept a major change, …students pay £1k, dentists are no longer free etc ..then creep creep creep. Obvious to everyone except ML.
wait so if i earn 70k a year how much loan do i have to pay back is it still 9% or more
I am on 10 year visa route with having child who is British Citizen. Can I apply for Student finance? my visa is parent of British Child since January 2020